The Aurora Pacific Economic Zone and Freeport Authority (APECO) is finalizing lease and investment agreements with two new locators to build food processing and logistics facilities as well as tourism villas within the ecozone in Casiguran, Aurora.
APECO named TGV Development Corporation (TGVDC) as the developer of the cold storage facility and food processing center. It will also invest in a boat and docking facilities in the ecozone for tourism.
Meanwhile, Central Sierra Hotels Resorts, Inc. (CSHRI) plans to build 80 villas, of which 10 are luxury villas, to increase the number of accommodation facilities in Casiguran.
APECO said the lease contracts and investment agreements for the two companies are expected to be signed on March 18, with groundbreaking for the facilities on April 28, 2025.
The investment promotion agency (IPA) said the projects align with its vision to make Aurora as the fishing capital of Luzon by getting more investors in the aquaculture industry, as well as boosting the province's tourism sector.
“With a cold storage facility, produce and other perishable goods will have less spoilage and would have an extended shelf life. Coupled with a food processing plant, locally farmed, caught, or produced goods can be transformed into high-value export further that is expected to raise revenue for local farmers and fishermen,” APECO said in a statement.
It added TGVDC’s docking and boat facilities for tourism will cater to water sports activities such as watersports, jet ski, boating, kayaking, and island hopping.
With tourism also a key priority sector of APECO, the IPA said the luxury villas of CSHRI are expected to increase foot traffic from foreign and local tourists in Casiguran, and stimulate the Meetings, Incentives, Conferences and Exhibitions tourism in the area.
“These developments promise long-term economic benefits by stimulating investment, enhancing local enterprises, and generating employment opportunities,” APECO said.
“APECO and its surrounding communities stand to gain not only from immediate job creation but also from a sustainable growth cycle driven by increased commerce and tourism."
AURORA LGU PHOTO
