Vol. XXII, No. 160 [ BusinessWorld Online ]
Tuesday, March 17, 2009 | MANILA, PHILIPPINES
BACOLOD — The Philippine Economic Zone Authority (PEZA) has authorized the Sagay City government to develop and operate the North Negros Agro-Industrial Export Processing Zone.
The 20-hectare special economic zone, situated in Paraiso village, was issued a presidential proclamation in September last year, following the groundbreaking rites in March last year.
It is the first agro-industrial processing zone in the Visayas.
Mayor Alfredo Marañon, Jr., who accepted the certificate of registration from PEZA Director General Lilia de Lima, said in a statement that the ecozone aims to provide employment to Negrenses and business opportunities to locators.
Sagay City, situated about 84 kilometers north of Bacolod, will establish, develop, construct infrastructure facilities, utilities, and public amenities required by prospective locators.
The agri-industrial zone, estimated to be developed at a cost of P675 million, will be equipped with modern engineering facilities and will initially cater to finished food products.
A Triple A abattoir with a capacity to slaughter 1,000 hogs daily will also be constructed.
In 2006, Sagay City received P100 million in financial assistance from the Land Bank of the Philippines for the establishment of the agro-industrial zone. — N. L. Guadalquiver
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