Developers sign joint venture: Cordova reclamation project resurrects

CEBU, Philippines - The controversial proposed 3,500-hectare reclamation project in Cordova town is back in the limelight, after a Manila-based developer who proposed the project 40 years ago signed a joint venture contract for the project's undertaking.

Malayan Integrated Industries Corporation, through its president and chief executive officer Pablo Villaber, signed a joint venture agreement with One-Earth Project Management Ventures Inc. represented by its president and CEO Manny Arcena.

The agreement will focus the development of the 3,500-hectare reclamation project in Cordova town passing across at least five coastal barangays.

Villaber said the realization of the project will change the shape of Cordova from a town into a city in the next five to ten years. Arcena, on the other hand, said that their company is also optimistic on the success of the project.

Cordova Mayor Adelino Sitoy, when contacted by The Freeman for reaction, said he did not know about the said signing of the joint venture agreement.

It was learned that in 2008, the Municipal Council of Cordova passed a resolution invalidating the contract between the council and the Malayan Integrated Industries Corp. for the project.

But former executive secretary Ronaldo Zamora ruled that the 1977 contract between the town council and Malayan was invalid because the municipality had no authority to either conduct a public bidding or enter into a contract for reclamation projects.

Also in 1999, Zamora cancelled the memorandum issued by the Office of the President in 1996 granting Malayan the exclusive rights to handle the reclamation project in Cordova

The Cordova Reclamation and Development Project was formed through a memorandum of agreement signed by the Cebu Provincial Government during the term of former governor Lito Osmeña and the Public Estates Authority.

A fishermen's group in Cordova is strongly opposed to the proposed reclamation project. (FREEMAN)