Some P31.48 billion in investments were pledged by seven blue-chip investors at a business forum showcasing the business potential of Iloilo.
Some 300 businessmen attended the “Iloilo Means Business” summit on Wednesday at the Intercontinental Hotel in Makati City. At the summit, power projects dominated the commitments.
The Palm Concepcion Power Corp. is constructing a P5-billion coal fired power plant in Concepcion, Iloilo. Global Business Power Corp is building a similar plant at a cost of P15.6 billion in Iloilo City. Dream Engineering is investing P10 billion on a solid waste to energy project in Iloilo City, while Energy Renewables Asia Inc is committing P1.2 billion on a solar farm project in Tacas, Jaro, Iloilo City. NV Vogt Singapore Pte. Ltd. has earmarked a P500-million initial investment for a solar plant in Jaro, Iloilo City. Intracare Inc. has set aside P1 billion for tourism projects including a cable car in Guimaras island province. Double Dragon Properties Inc. has allotted P1.4 billion for five city malls in Iloilo City.
Ramon del Rosario Jr., president and chief executive of Phinma Corp. admitted his group invested in education by expanding the curriculum of the University of Iloilo to make it more competitive. Phinma is also investing in renewable energy with a wind power farm in Guimaras.
For its part, the government is planning more infrastructure projects in Iloilo attract more investments there.
Senate President Franklin Drilon said this infrastructure development aims to transform Iloilo as a prime area for investment and tourist destination.
The Department of Transportation and Communications (DOTC) has allotted P500 million for the expansion of the Iloilo International Airport. The airport is now the fourth busiest airport in the country.
Iloilo is also expanding its Du–mangas Port, which serves as passenger and cargo terminal and offers 24/7 Roll-On, Roll-Off facility.
Mayor Jed Patrick Mabilog of Iloilo City has invited the private sector to partner with the government for the P180-million Dumangas Port expansion that the province hopes to upgrade into an international seaport.
There are also road projects such as the four-lane, 14-kilometer Iloilo Circumferential Road and the expanded 150-kilometer Iloilo-Capiz-Aklan Highway to ease traffic and logistics situations.
The province also has conducive areas for information and communications technology ventures because of its affordable business cost, available basic infrastructure, rapid urbanization, and competitive pool of talents, Mabilog said.
The government is also mulling the Jalaur River Multi-Purpose Project, which will provide irrigation for 32,000 hectares of farm land, benefit 783,000 farmers, create 17,000 jobs, and double Iloilo’s rice production.