Dec 6 2011 03:03 am
Published : Saturday, December 03, 2011
Written by :
CASIGURAN, Aurora -- The South Korean government has extended a P79.2-million grant to the Aurora Pacific Economic Zone (Apeco) to bankroll the feasibility studies for three major projects inside the ecozone.
Robbie Mathay, Apeco president and chief executive officer, said the Korean grant, which is coursed through the Korean Export-Import Bank, will be used to finance studies for water system, hydroelectric power and waste management systems inside the ecozone.
He said the Korean grant not only manifests the Korean government’s resolve to help the Philippines, which has Korea as its fifth largest trade partner but also its confidence in the economic prospects and opportunities in Apeco.
Mathay said the Korean government has been very supportive in developing Apeco. Early this year, it funded a feasibility study through a P15-million grant from the Korean Economic Development Cooperation Fund for the construction of a P2.4-billion international container seaport aimed to transform this economic zone into a logistics hub for exportation of agro-fishery, timber and industrial products in central and northern Luzon.
He said the seaport project is now awaiting approval of the National Economic Development Authority for funding under the Official Development Assistance of the Korean government with counterpart funding from the national government. A consortium composed of the Dasan Engineering and DY Engineering companies completed the feasibility study for the international container seaport after three months.
The proposed modern container port, which is projected to be finished in four years, will complement the domestic seaport and will attract business locators.
He added that the Korean government has also expressed interest in constructing an all-weather road in the remaining unpaved portion of the 120-kilometer Baler-Casiguran Road.
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