A $24-BILLION industrial park project will rise in Barangay Maputi, Banaybanay, Davao Oriental.
This is bared by Maydeeh Libago, executive assistant of Pionaire Finance Limited on Thursday, October 26, at the Marco Polo Hotel–Davao saying this will benefit thousands of workers.
“Since our project in Davao Occidental will not push through, we are now working with the provincial government of Davao Oriental and we are happy that the governor (Nelson Dayanghirang) is very much upbeat about this,” she said.
The Public-Private Partnership (PPP) project which is dubbed as “Marina and Industrial Park” will be composed of 1200 megawatt (MW) liquefied natural gas (LNG) combined cycle power plant; chemical industrial park; water-generation manufacturing facility; LPG & Storage Terminal; 20 million metric tons refinery; Petrochemical Complex; and a storage facility together with an associated Terminal and International Port and Cargo Terminal.
“At present, we will coordinate with our new Provincial Government partner and do all the necessary permits and licenses to meet our timeline. We hope to break ground the project sometime in the first quarter of 2018 and finish it within two years,” Libago added.
The project in Davao Oriental will rise in a 1,000-hectare area. Representatives from both parties had its first site visit on October 26.
“Yes, the project will be smaller compared to what we envisioned in Occidental but basically our requirement is just 1,000 hectares,” she said.
Dayanghirang, who was present during the forum welcomed the investment lead and is hoping that after a thorough look into the project, it will push through.
The group of investors led by company Chairman and CEO Asllan Jaku visited the site on Thursday. They were accompanied by a team from the Provincial Government headed by Provincial Planning and Development Coordinator Freddie Bendulo.
The location is being considered strategic because of the presence of the Davao Gulf, ideal for the establishment of a port for cargo vessels within the marina they plan to build.
Libagon emphasized that the location in the new site is ready as Davao Oriental has already done with its land zoning as compared to Occidental which is still considered as “baby province.”
Davao Occidental is a year-old province inaugurated last June 30, 2016.
Currently, the Provincial Government has initially identified a 700-hectare land for the project in the coastal village.
A series of forums and studies are set to ensue following the initial conference to be able to come up with an agreement that will cement the commitment of all stakeholders.
The project was previously announced cancelled in Davao Occidental because of land issues.
