AG&P expected to be locator at proposed Albay economic zone

THE Philippine Economic Zone Authority (PEZA) said Atlantic Gulf & Pacific Co. (AG&P) is considering locating at a proposed economic zone (ecozone) in Albay.

In a statement on Tuesday, PEZA said the infrastructure company is hoping to set up a manufacturing operation in the proposed Bicol Region Economic Zone (BREZ) in Libon, Albay.

AG&P, a long-time PEZA locator, specializes in industrial and modular infrastructure and services liquefied natural gas terminals, refineries, petrochemical plants, utilities, LNG liquefaction modules, and other complex process units.

To date, the company has invested over P8 billion in the Philippines with staffing topping 1,200 workers.

PEZA said the proposed BREZ has attracted interest from prospective investors and PEZA-registered companies seeking alternative locations.

BREZ is located at Barangay Pantao and can access a port operated by the provincial government.

PEZA Director General Tereso O. Panga said it needs to obtain approvals from some government agencies before BREZ can be proclaimed an ecozone by the President.

PEZA is in the process of completing the documentary requirements before the President can proclaim BREZ, an approval process governed by Republic Act 7916 or the Special Economic Zone Act, as amended.

PEZA still needs sign-off from the departments of Environment and Natural Resources and Agrarian Reform, as well as the National Water Resources Board. — Beatriz Marie D. Cruz