There are four investors that have expressed interest in the project, said Philippine National Oil Co. (PNOC) president and chief executive officer Thelmo Y. Cunanan. Filoil is a subsidiary of PNOC.
Cunanan said the site, located beside the Cavite Export Processing Zone (CEPZ), has been idle, resulting in a monthly loss of nearly P200,000. The CEPZ itself is occupying five hectares of the Filoil property without compensation.
Aside from this, Cunanan said a 10-ha area is being occupied by squatters. However, Cunanan said the Court has ordered the eviction of the illegal occupants.
A 52-ha. area has been identified as a special economic zone, which allows locators special perks like income tax holidays and tax privileges. The remaining 80 or so hectares may be used for a low-cost housing project and an industrial park complex including a seaport.
The site used to house the refinery of Filoil, which was converted to Petron ownership and eventually mothballed. – Ted Torres