Published : Thursday, October 06, 2011
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BALER, Aurora -- The Aurora Pacific Economic Zone and Freeport Authority (APECO) under the Department of Trade and Industry reiterated its pledge to lead sustainable development in Northeast Luzon during the budget hearing at the Senate the other day.
“APECO would not only lead sustainable development in North Eastern Luzon but also to foster socio-economic growth and businesses throughout the eastern seaboard,” said Robby Mathay, president and chief executive officer of APECO.
Last month, the Congress approved the proposed P332.5-million 2012 budget of APECO amid protest from militant groups belonging to Catholic Church and Multi-Sectoral Group (MSAG).
During Apeco’s budget hearing by the Senate committee on finance chaired by Sen. Franklin Drilon, Mathay explained that the ongoing infrastructure development in Apeco is at full blast. The administration building and entrance plaza, costing P98 million and P15 million respectively, will be completed by November 2011. The hotel building worth P202 million will be completed by March 2012.
He also discussed the proposed infrastructure development for 2012 namely, the standard factory building worth P212.5 million and the Light Industrial building which is worth P180 million.
The Casiguran Airport’s 1.2 kilometer airstrip is being expanded to 1.5 kilometer worth P92 million. The extension project will be finished by June 2012.
Mathay also said four Taiwanese-owned companies have signified their interest to invest in mariculture, agri-business and port construction in APECO in recognition of the ecozone and province’s enormous potential for business expansion.
These are Chinabond which is now venturing into organic rice production in APECO, hog raising, feed processing and hydroelectric power generation; TP Color Corporation, which is also in the mining industry, is set to expand into port construction and operation; Philippine Kingford is a company that specializes in tuna export, ship repair and freight forwarding; Great Sun Optoelectronic is a highly diversified company engaged in construction, trading, manufacturing computer and TV monitors and providing medical services. It will invest in an aquaculture facility for milkfish and grouper breeding, as well as a coconut processing plant.
Source: http://www.journal.com.ph/index.php/news/provincial/14737-apeco-vows-sustainable-devt-in-northeast-luzon
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