A Notice to Proceed has been issued to Cebu-based developer Cebu Landmasters, Inc. (CLI) for its 100-hectare reclamation project in the town of Minglanilla in southern Cebu.
CLI informed the Philippine Stock Exchange Wednesday, Oct. 6, 2021, that the Philippine Reclamation Authority (PRA) board of directors issued the Notice to Proceed through Resolution 5389 series of 2021.
The reclamation project, which CLI will develop in partnership with subsidiary Ming-Mori Development Corporation (MMDC), is envisioned to host a techno-business hub with a fully integrated port facility.
Actual reclamation activities are targeted to begin in the first half of 2022, the company said. The bidding and awarding of contracts to contractors and suppliers is scheduled for the fourth quarter of 2021.
To be called Ming-Mori Techno Business Park, this township development is estimated to cost P20 billion.
It will feature commercial, industrial, civic and recreational components. It is estimated to generate over 75,000 jobs in light manufacturing industries.
Both the MMDC and the Minglanilla local government unit obtained project approval from the PRA in June 2021.
CLI holds an 80 percent stake in MMDC. This reclamation project will be its third large-scale project after the township developments in Davao and Cagayan de Oro. (Ventures Cebu)