Mitsubishi eyeing investment in Sagay export zone-A A +A
Wednesday, August 20, 2014
NEGROS Occidental Governor Alfredo Marañon Jr. said Tuesday that a group from Mitsubishi in partnership with Ayala Land Inc. is eyeing a possible investment in the North Negros Agro-Industrial Export Processing Zone in Sagay City.
The investor's advance party surveyed the area and they inquired about water and electricity supply, the governor said.
However, Mitsubishi has not mentioned yet the specific investment, he said.
The Sagay export zone spans 150 hectares and the first phase covering 20 hectares is already developed, Marañon said.
In early 2009, the Philippine Economic Zone Authority (Peza) authorized the Sagay City government to develop and operate the North Negros Agro-Industrial Export Processing Zone.
Situated in Barangay Paraiso, the 20-hectare special economic zone was issued a presidential proclamation in September 15, 2008, following the groundbreaking rites in March of the same year.
It is the first agro-industrial processing zone in the Visayas.
Marañon, then mayor of Sagay, accepted the certificate of registration from Peza Director General Lilia de Lima.
Marañon said in a statement that time that the ecozone aims to provide employment to Negrenses and business opportunities to locators.
Sagay City will establish, develop, construct infrastructure facilities, utilities, and public amenities required by prospective locators.
The agro-industrial zone, estimated to be developed at a cost of P675 million, is being equipped with modern engineering facilities.
Sagay City received P100 million in financial assistance from the Land Bank of the Philippines in 2006 for the establishment of the agro-industrial zone. (TDE)
Published in the Sun.Star Bacolod newspaper on August 20, 2014.