Korean investors eye billion-pesos projects
LINGAYEN—Three groups of Korean investors are reportedly keen on investing in various business projects here in Pangasinan.
According to Governor Amado Espino Jr., one group is keen on constructing a retirement village for Koreans possibly in Mangatarem or Bolinao.
Espino said the group visited the country last Christmas to look at possible sites.
Another group is interested in putting up a factory that will manufacture electric-run vehicles such as tricycles and cars.
The third one, he said, is interested to bankroll the construction of the Sual Port, which was already endorsed by the National Economic and Development Authority and construction is planned to start this year.
A groundbreaking rite for the project is tentatively slated before January 25.
Espino, who initiated the construction of the project to boost economic opportunities in Pangasinan, said the Sual Port will have an initial budget of P500 million to be shared by several government agencies.
The Philippine Ports Authority (PPA) will contribute P100 million; another P100 million from the Department of Transportation and Communication, P200 million from the Pangasinan Provincial Government; and P100 million from the municipality of Sual.
The bidding for the project was undertaken last December.—LM
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