Capitol inks JVA with consortium for 254-ha. Cordova reclamation project

By: Doris C. Bongcac February 05,2022 - 11:38 AM

| Photo from Sugbo News

MANDAUE CITY, Cebu – Another “ambitious” project will soon be implement in Cebu.

Governor Gwendolyn Garcia signed on Friday, February 4, 2022, a Joint Venture Agreement (JVA) with Cordova Shores Development Corporation for the implementation of a 254-hectare reclamation project in Cordova town on Mactan Island that is estimated to cost P11.3 billion.

In a report posted by Sugbo News, the Capitol’s media arm, Garcia was quoted saying that she first learned of the “ambitious Cordova reclamation project” that was envisioned by the late Presidential Legislative Liaison Office Secretary Adelino “Addy” Sitoy, when she was still a consultant for her father, the late governor Pablo “Pabling” Garcia.

However, “the project never got off the drawing board.”

The Governor said that one of the reasons why she was destined to return to the Capitol was to make sure that Sitoy’s dream would come true, adding that “there are no coincidences in this life, only alignments.”

 On Friday, Garcia signed the JVA with the project developer.

The signatories of the JVA were Garcia and Manuel Gonzalez, president and chief executive officer (CEO) of Ulticon Builders Inc. (UBI), who represented the consortium that also includes Premium Megastructures Inc. (PMI). Others who were present were PMI president and CEO Francis Lloyd Chua and UBI chairman Carlos Gonzalez.

Cordova Mayor Mary Therese Sitoy-Cho and Provincial Board Member Glenn Anthony Soco of the Provincial Economic Enterprise Council acted as witnesses to the JVA signing.

The Cordova reclamation project is the newest addition to reclamation projects that are now being proposed in Consolacion town, Mandaue City and Minglanilla town among others.

RELATED STORIES:

New Reclamation Project: Mandaue Harbor City designed after Aseana City in Parañaque

Experts: Cebu town reclamation to cause ‘irreversible’ damage to ecology

Mingla reclamation project a go

Subscribe to our regional newsletter


Read Next

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of Cebudailynews. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

TAGS: Capitol, Consortium, Cordova Reclamation Project, JVA

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.