Vol. XXII, No. 9 [ BusinessWorld Online ]
Thursday, August 7, 2008 | MANILA, PHILIPPINES
DAVAO CITY — A billion-peso food terminal complex is being planned in Davao City to reduce wastage of products — the first of three planned for the region.
The technical working group of the Davao Regional Development Council met last Tuesday at the Department of Trade and Industry regional office to discuss the project.
Ramon F. Allado, president of the Southern Philippines Construction Core Group and head of Allado Construction, Inc., said a businessman is interested to bankroll 60% of the cost, while the remaining 40% would be offered to other stakeholders. Regional officials added that official development assistance could be tapped for the remaining capital. The city government will provide, as its equity, the land for the facility.
Presently, the technical working group is looking at the 25-hectare National Development Corp. in Toril District, about an hour’s drive from the downtown area.
Mr. Allado said the food terminal complex will feature a cold storage facility that could be leased to canneries, processors, and growers "per cubic meter."
Teolulo T. Pasawa, DTI-Davao City director, said two more food complexes will be built in nearby Tagum City in Davao del Norte and Digos City in Davao del Sur.
Mr. Pasawa said that the planned food complex will have an agri-processing center and a technology and business incubation, to prime Davao City for greater participation in the Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area and other Asian markets.
Davao del Sur Gov. Douglas R. Cagas, who also chairs the Regional Peace and Order Council, said the Japan International Cooperation Agency is also interested to fund the project, committing no less than $50 million. — Joel B. Escovilla
___________________________________________________________________
