DAVAO ORIENTAL – The Province of Davao Oriental and its partner Pionaire Finance Limited, Inc.'s $27 Billion Marina and Industrial Park, which is being eyed to be established in Banaybanay, Davao Oriental, will likely have to wait as the Provincial Government wants to further evaluate and study the proposed project before fully engaging on the big-ticket deal.
The heads of offices of the province in a recent meeting with CEO Asllan Jaku of Pionaire Finance Limited, the lead company for the aforementioned investment, have initially agreed to require the firm to submit the master plan for the proposed Davao Oriental project for evaluation.
The Pionaire Finance Limited, together with its partner Shenzen Energy Group Co., Ltd., based in China, intends to study, finance, and develop a marina and industrial park in a 1,000-hectare proposed Economic Free Trade Zone at Barangay Maputi in Banaybanay.
The proposed marina and industrial park will be composed of 1200MW gas-steam combined cycle power plant and Liquefied Natural Gas-Fired Power Plant; oil refinery; petrochemical complex; storage facility, and associated terminal; and import and export LPG storage and terminal.
The industrial park's storage facility can provide for the future oil and energy stockpiling requirements of the Philippine Government.
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