CORDOVA Mayor Adelino Sitoy submitted to Gov. Hilario Davide III the proposed sharing scheme of what may be the biggest reclamation project in the country.

It will be a 1,500-hectare reclamation project, 49 percent (735 hectares) of which will be owned by the developer—SM Prime Holdings Inc. (SMPHI).

The Provincial Government will own 10 percent of the proposed reclamation project.

The Cordova Municipal Government and the Philippine Reclamation Authority (PRA) will have a combined share of 11 percent.

The remaining 30 percent will be for road development, parks and open spaces.

The reclamation project will connect Shell Island, which is located in the western part of Cordova, to the town’s lighthouse, all the way to Lava Island in the southern part of the town.

PPP

The P138-billion project will be solely financed by SMPHI, which came up with an unsolicited proposal through a public-private partnership (PPP).

Sitoy said that the University of San Carlos conducted a study, which determined the disadvantage and benefits of the project.

“The expected benefit is huge,” said Sitoy in Bisaya.

Part of the development is a tourism area where SM plans to construct a seaport for cruise ships.

Sitoy also assured that all the environmental permits will be addressed when the project reaches the PRA.

After the PRA, the proponent will then get an endorsement from the National Economic and Development Authority.

Authorized

The final approval will be from the President.

Last April 6, the Provincial Board (PB) approved a resolution authorizing Cordova to undertake the reclamation project through a PPP.

Sitoy said that SMPHI is also willing to comply with the demands of the fisher folks, who will be affected by the reclamation.

Before the resolution was approved, the PB members gave a caveat for SMPHI to submit a proposal for livelihood projects for families that will be displaced by the reclamation.

The PB also required that the 2,000 fishermen expected to be affected will be in the priority list for SMPHI employment.

The company will also provide education, health and housing programs for the affected families.

Published in the Sun.Star Cebu newspaper on May 23, 2015.