THE Cagayan Economic Zone Authority (CEZA) signed a memorandum of understanding with South Korea-based Fairbridge Construction Corp. for the expansion of Port Irene in Cagayan to provide wider accommodation for large cruise and cargo vessels.

“We have a memorandum of understanding already signed and they are going to conduct the pre-feasibility and feasibility study,” CEZA Administrator and Chief Executive Officer Raul Lambino told The Manila Times.

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