Our economy is booming. Potential investors are coming in.
This is because Mayor Patrick Escalante has considered the importance of business safety and security for imminent local and international investments in Cadiz City.
With this development, the Asia Pacific Energy Resources Ventures, Inc. has invested more than 60 million pesos for its Coal Terminal Project in Cadiz City.
Antonio Prado, head of the City Port Management Office, has estimated that the multi-million CTP can generate revenues for the city. He said the city will earn around P400K to P500K for every dock and/ or for every coal loading in the port.
Aside from the revenue, Prado added, the project can provide employment for the people.
The project is occupying an area of two hectares along the access road in Barangay Tinampaan, Cadiz City. It is expected to start operation in the first week of August, this year.
According to Eng’r Cesar Lao-as, part owner of the project, the coal terminal is the first in Negros.
Eng’r Lao-as believes that the project can significantly meet the local demands for coal consumption.
The Asia Pacific Energy Resources Ventures, Inc. is a multi-national company where 78% of the shares is owned by Filipinos and 23% by foreigners.
The project will import coal supplies from Indonesia and other coal-producing countries. The Indonesia dominates the regional coal output and accounted for almost 75% of the region’s coal production.
Coal is used extensively for power generation and industrial application.
The coal terminal is also a necessary requirement for the power plant construction./*
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