Sual Int’l Seaport still possible
WITH FOREIGN INVESTORS
SUAL—All is not lost with the inability of the national government to complete the construction of a planned international seaport because a group of foreign investors appear set to complete the project.
This was announced by town Mayor Roberto Arcinue who said in an interview that the international seaport estimated to cost at least $1.2 billion will be built in the area of the seaport funded by the Philippine Ports Authority (PPA).
He said the feasibility study and inspection of the area has already commenced.
The existing seaport only accommodates barges and RORO vessels, since it
has only completed the first phase of the plan.
The mayor said the new project, the international seaport, will allow docking of big vessels.
The PPA-initiated project was estimated to cost P500 million but PPA failed to fully raise its P200 million counterpart and estimates to complete the project that have already risen.
Governor Amado Espino Jr. said earlier that even with the provincial government’s counterpart worth P200-million and the P100-million from the local government of Sual, the completion of the second and third phases of the Sual Seaport is no longer possible.
New studies indicate that at least P700-million is needed for the two phases of the project to be completed.
Arcinue also admitted that the town is unable to provide its P100-million counterpart.
The group of foreign investors has existing projects in Dubai, China, among others. (Johanne Macob)
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