Cordova will be ‘investor’s haven’ with third bridge
THE third bridge that will connect mainland Cebu to Mactan Island has some stakeholders seeing the transformation of Cordova town into an “investors’ paradise.”
“Cordova will be the new investors’ paradise not just in terms of tourism but also in infrastructure development, commercial, and industrial activities,” Allan Alfon, president and general manager of the Cebu-Cordova Link Expressway Corp. (CCLEC) said in a speech during yesterday’s ceremonial start of construction of the project.
Two pipes measuring 145 meters in height were laid down in Mactan Channel near Shell Island as part of the part of the bridge’s piling works.
The Cebu-Cordova Link Expressway (CCLEX) project is an 8.5-kilometer toll bridge and road project undertaken through a joint venture between CCLEC and the local governments of Cebu City and Cordova town.
CCLEC is investing close to P30 billion for the project, which is targeted to be completed in 2021.
“As early as now, since some investors are aware that we are investing P30 billion worth of link from Cebu to Cordova, the investors now are already scanning what potential investments they can put in,” Alfon said.
Among these investors, he said, is a big developer of industrial estates that wants to locate in Cordova and introduce multi-national locators there.
Alfon said a lot of real estate developers, both local and from Manila are interested in building residential condominiums, horizontal developments, and even commercial and leisure developments like hotels in Cordova.
The CCLEX project is envisioned to decongest the traffic in two existing bridges connecting Mactan Island to mainland Cebu, both in Mandaue City.
Cordova Mayor Mary Therese Sitoy-Cho said they are also preparing the town for the expected economic boom despite their limited resources,
She said they are now coordinating with the Department of Public Works and Highways (DPWH) in widening some of their narrow roads as well as concreting their other existing road networks.
Cebu City Mayor Tomas Osmena said the bridge should decongest urban centers and move development to Cordova town. /With Reporter Morexette Marie B. Erram
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