A JAPANESE company will
start constructing a $300-million shipbuilding facility in Hinobaan, Negros
Occidental next year in what will become the Southern Negros Industrial Estate
(SNIE), Governor Alfredo G. Marañon, Jr. said. An agreement was signed in October
last year by Mr. Marañon and executives of Tsuneishi Heavy Industries, which
will set up a ship recycling and reuse facility. The governor has already
requested the provincial board to approve an ordinance establishing the SNIE on
the lots to be expropriated -- covering an estimated 285 hectares -- and the
creation of an office to manage and supervise the industrial estate. The Negros
Occidental provincial government is expropriating the property of the defunct
Insular Lumber Company (ILCO) and several other private lots in Hinobaan. PB
Member Salvador G. Escalante, chairperson of the committee on finance and
appropriations, said the lease contract of the provincial property by ILCO
already expired and the company also failed to settle its taxes. With ILCO no
longer existing, Mr. Escalante said the provincial government now owns the
property, but expropriation proceedings are still needed to safeguard the
investment. The board committee on laws will hold a hearing this week to
discuss the proposed creation of the SNIE.
Source: business
world. 10 July 2017
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