Posted on November 12, 2014 11:07:00
PM [ BusinessWorld Online ]
AYALA LAND, INC. (ALI) cleared a major
hurdle to its plan to convert Sicogon Island in Iloilo province into an
eco-tourism destination after it settled its long-standing dispute with the
farmers and fisherfolk there.
In a press statement released on
Wednesday, the property giant said it signed a compromise and framework
agreement on Nov. 8 with the Federation of Sicogon Island Farmers and
Fisherfolk Association, as well as with the Sicogon Development Corp. (SIDECO).
By the first quarter of 2015, Ayala
Land will begin building an airport and a jetty port to improve access to the
island.
“The development is also seen to
improve economies and land use through tourism, and is consistent with the government’s
thrust to alleviate poverty,” the statement read.
At least 25,000 local jobs are
expected to be generated from the project, which will be a joint venture
between Ayala Land and SIDECO.
Residents will be relocated to
resettlement sites that will be provided by Ayala Land and SIDECO.
Ayala Land has also begun implementing
livelihood and training programs for the locals.
“We are glad that all the stakeholders
have come to an agreement regarding development of the island,” Maria Corazon
Dizon, vice-president and head of ALI Capital, was quoted in the statement as
saying.
The agreement was signed exactly a
year after super-typhoon Yolanda hit the country. -- Daphne J. Magturo
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