Filoil to develop Cavite property

Filoil Development and Management Corp. (Filoil) will develop a 118-hectare property in Rosario, Cavite into a business park, retail-commercial area including affordable housing areas and an industrial estate.

There are four investors that have expressed interest in the project, said Philippine National Oil Co. (PNOC) president and chief executive officer Thelmo Y. Cunanan. Filoil is a subsidiary of PNOC.

Cunanan said the site, located beside the Cavite Export Processing Zone (CEPZ), has been idle, resulting in a monthly loss of nearly P200,000. The CEPZ itself is occupying five hectares of the Filoil property without compensation.

Aside from this, Cunanan said a 10-ha area is being occupied by squatters. However, Cunanan said the Court has ordered the eviction of the illegal occupants.

A 52-ha. area has been identified as a special economic zone, which allows locators special perks like income tax holidays and tax privileges. The remaining 80 or so hectares may be used for a low-cost housing project and an industrial park complex including a seaport.

The site used to house the refinery of Filoil, which was converted to Petron ownership and eventually mothballed. – Ted Torres