Universal Robina Corporation (URC) has agreed to let the City Government of Passi, in Iloilo province, use a portion of a property it owns for a thoroughfare leading to a proposed economic zone.
A deed signed by URC President & CEO Lance Gokongwei, URC Sugar and Renewables Business Unit General Manager Renato Cabati, and Passi City Mayor Jesry Palmares, grants the city government the “right and privilege” to use 40,329 square meter of its property in Passi City for the construction of a road leading to and from the economic zone.
This would prevent traffic from building up inside the city itself.
“This is our way of giving back to a community that has been a gracious and generous host to us. It is our hope that through this effort, Passi City can achieve its goals to bring growth and prosperity to its population,” said Gokongwei.
Inking the partnership are (from left) URC President and CEO Lance Gokongwei, Passi City Mayor Hon. Jesry Palmares, and URC Sugar and Renewables Business Unit General Manager Renato Cabati.
Passi City is a largely agricultural town with produce that mostly include sugarcane, rice, and pineapple. The move to develop an economic zone is in line with the efforts to spread growth from urban centres to farm-dependent regions.
“It’s going to be a major artery that this road will bring about in the heart of Panay Island. It will make the flow of all transports connecting Iloilo, Capiz, Aklan and Northern Antique more feasible” said Mayor Palmares.
URC will retain ownership of the entire property, while Passi City will be in charge of maintaining and repairing the road.
Sangguniang Panglunsod of Passi City already passed a resolution exempting URC from the payment of Real Property Taxes with respect to the subject property.