Davao Oriental breaks ground for multi-billion industrial park

DAVAO CITY – The Davao Oriental provincial government and its foreign partner Pionaire Finance Limited held a ceremonial ground breaking for the multibillion industrial park in Banaybanay town in Davao Oriental province.

Governor Nelson Dayanghirang and Pionaire President Bill Shen also signed a memorandum of agreement during the Davao Oriental Industrial Park Business Conference held at the Marco Polo Hotel last week.

Dayanghirang said the proposed 1,500-hectare industrial zone would usher in socio-economic improvement to the province and its people. It is expected to draw investments and 20,000 local jobs. The project, which would cost $2.27 billion or about P113 billion, will be funded by Pionaire through a soft loan.

Dayanghirang said the land acquisition remains a work in progress, with many of the 200 landowners of the 850-hectare property already supporting the project. He said the provincial government has yet to work on its application for the land conversion from agricultural to agri-industrial area. An approval of the Philippine Economic Zone Authority (PEZA) is still needed.

“This will be a difficult process. It’s not ordinary. We need to negotiate for the 1,000 hectares and we expect resistance. Di pa maintindihan (ng tao) kung ano ito,” he said, adding, Banaybanay town was chosen as the location of the industrial zone because it is the gateway to the province.

The industrial zone would cover the villages of Maputi, Piso, Cabangcalan, Calubihan, and Causwagan. It will cover the 2,700 megawatts liquefied natural gas and cycle power plant, a petrochemical refinery, a fertilizer factory, a cement plant, and water facility.

The multi-billion dollar investments by Pionaire will enhance the province’s infrastructure system and competitiveness as an investment destination,.

“Our province has been blessed with more than enough natural resources. With fertile land and bountiful waters, Davao Oriental is a goldmine of opportunities. This is a magnificent reality that we need to take advantage of,” Dayanghirang said.