APECO begins construction of P185-M tourism, ice plant projects – BusinessWorld Online
THE Aurora Pacific Economic Zone Authority and Freeport Zone (APECO) has started the construction of the P185-million tourism and ice plant projects within the Casiguran Economic Zone (ecozone).
In a statement on Thursday, APECO said that it held a groundbreaking ceremony for the projects together with Central Sierra Hotel Resorts, Inc. (CSHRI) and TGV Development Corp. on April 30.
In particular, the CSHRI will be developing a P145-million beachfront resort on a 1.5-hectare lot within the ecozone. The 70-room development is targeted to begin operations in the next 12 months.
“This will truly change the tourism landscape in Casiguran,” said APECO President and Chief Executive Officer Gil G. Taway IV.
“Casiguran is already home to many beautiful spots, but with this development, we expect a rise in visitors. Beyond the area’s natural charm, travelers are also seeking comfortable and high-quality accommodations,” he added.
TGV Development also began construction for its P40-million ice and food processing plant facility which has the capacity to process 20 tons of tube ice and 1 ton of marine products sourced from local fisherfolks.
TGV Development President and Chief Executive Officer Rene Tayag said that the company also has plans to further expand the development to include commercial spaces and a gas station.
“Our funding facilities, including support from the Development Bank of the Philippines, Philippine Guarantee Corp., and Pampanga Development Bank, remain in progress,” he said.
“The president of the Pampanga Development Bank is also expected to visit the site soon for an on-ground assessment,” he added. — Justine Irish D. Tabile
