APECO signs P18B worth of renewable energy, defense pledges

THE Aurora Pacific Economic Zone and Freeport Authority (APECO) said it took in investment pledges worth P18 billion, most of them involving renewable energy and defense projects.

“As investors seek more gateways amid port congestion and market saturation, APECO can serve as an unobstructed gateway,” APECO President and Chief Executive Officer Gil G. Taway IV said on state-run PTV-4 on Tuesday.

The investment pledges also involve tourism, agri-processing, cold storage, and skills training.

APECO manages a 496-hectare ecozone in Casiguran, Aurora. APECO touts itself as a viable investment hub for the country’s Pacific coast.

Mr. Taway said Pacific Impact, a Singapore energy firm, is looking to build a 25-megawatt solar power plant within the Aurora ecozone.

He noted that the investment is expected to attract more locators to APECO, as energy security remains a key consideration in location decisions.

APECO is also in talks with a US defense logistics company on potential investment in drone testing and manufacturing, and ammunition production.

The Casiguran port is about 250 kilometers from the Philippine rise, which is thought to contain significant mineral resources, Mr. Taway said. — Beatriz Marie D. Cruz