Two foreign funders to develop $1-B Ilocos Port

By Mar T. Supnad

VIGAN CITY- Two private foreign funders from Singapore and China will fund the development and conversion of the Salomague Port in Cabugao, Ilocos Sur into an international seaport, a top official of the province said.

Gov. Luis “Chavit” Singson said two groups of foreign funders have expressed interest in the construction of Salomague Port after meetings with foreign businessmen.

Aside from the two foreign groups, a group of bankers in Hong Kong had also wanted to develop Salomague Port, after noticing its potential being located along the strategic area in the Northern Philippines which is near to Hong Kong, China, and Taiwan.

The Palafox Architects had already come up with a master development plan on the Salomague Port that needs at least $1 billion for the proposed Seaport, development, construction of five star hotels, housing, golf course and others in the vicinity of Cabugao.

Vice Gov. DV Savellano, a native of Cabugao where the Salomague Port is located, had been pushing for conversion of the port here into an International Sea port due to its strategic location and sprawling area and accessibility to nearby China and Taiwan.

“The two foreign groups are bent on putting up of an international seaport here by converting the Salomague Port after making a series of exploratory talks, studies and feasibility on the proposed port and we are optimistic that they can start it anytime once the documentation is completed,” Singson said.

Newsmen learned that a number of foreign investors had also visited and conducted feasibility studies on the Port, located along China Sea. Salomague Port may also be utilized as transshipment point being located along Northern coast of the country.