The Aurora Pacific Economic Zone Authority (APECO) yesterday signed investment and lease agreements with two companies that will build food processing and logistics facilities as well as tourism villas within the ecozone in Casiguran, Aurora.
These companies are TGV Development Corp. (TGVDC) which will set up a cold storage facility, a food processing center and boat and docking facilities for tourism; and Central Sierra Hotels Resorts Inc. (CSHRI) which will construct accommodation facilities, APECO said.
APECO president and chief executive officer Gil Taway IV and Rene Tayag, president of TGVDC and CSHRI, signed the agreements in Taguig City for the P185-million projects.
Tayag said in an interview CSHRI will initially invest P145 million for the construction of a three-star hotel and 70 villas, including 50 deluxe units, in a 1.5-hectare beachfront area in APECO.
Tayag said the resort will accommodate guests such as scuba diving and multi-sport enthusiasts that visit Casiguran where APECO is located.
He said TGVDC will build a half-hectare facility for seafood processing for the local market.
TGDVC will spend P40 million to bring in a 20-ton ice plant for the processing of high-value fish like tuna and blue and white marlin caught by local fishermen for CSHRI guests and other APECO locators.
According to Tayag, TGDVC will also build a 2-ton cold storage facility. Groundbreaking for both facilities is set on April 28. Completion is expected within eight to 12 months thereafter.
