[ Manila Bulletin Online ] January 15, 2009
By MALOU M. MOZO
TOLEDO CITY, Cebu — The city government and multinationals here are finalizing plans for the development of a 54-hectare property into an economic zone (ecozone).
During the capsule-laying rites held last week, Toledo City Mayor Arlene Zambo said the application for the declaration of a 54-hectare land in Barangay Daanglungsud, this city as an ecozone is now pending with the Philippine Economic Zone Authority (PEZA).
The development of the ecozone is expected to cost at least RR140-million. The project is targeted to be finished before her last term ends next year, Zambo said.
"This will truly bring more economic developments to the city," she said in an interview, adding that an ecozone in Toledo will provide more than 10,000 jobs for the residents of the city and neighboring towns.
Like other ecozones, investors in the area would enjoy incentives, like tax holidays and cheap production costs.
Together with the city government, the consortium includes private sector partners Atlast Fertilizer Corp. and Global Business Power Corp.
Carmen Copper Corp., Alakor Corp., Toledo Holdings Corp., Asian Slipway Corp. and Hinigaran Realty Development Corp. are considered potential locators at the ecozone.
Aside from the ecozone, Zambo bared plans of the Gaisano Group to build a two-to-three story mall this year. This will be constructed in a 3,000-square-meter lot in Barangay Poblacion.
The mall will greatly complement the ecozone project.
Zambo said the ecozone is in line with Toledo City’s goal to be a destination for manufacturing and industrial firms in the southern part of Cebu Province.
"We are also called the City of Golden Opportunities," said Zambo, referring to Toledo’s gold and copper deposits.
"We are going to intensify our edge as an ‘Industrial City,’ being the home of the largest copper mine in Asia," she said.
Zambo said the city’s population is expected to grow significantly in the next years as big-ticket investments come in.
The city government is also looking forward to the completion of three new coal-fired power plants in Barangay Sangi.
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