MANILA, Philippines — The feasibility study for the planned 5,000-hectare bamboo plantation inside the Aurora Pacific Economic Zone and Freeport Authority (Apeco) is expected to be completed this year, paving the way for the construction of the P1.2 billion farm sometime after the assessment.
A source at the nearly 17-year-old government-owned and controlled corporation shared the timetable with the Inquirer on Monday, following last week’s signing of the agreement between the Apeco and Kapwa Agroforestry Corp (Kapwa).
The investor, Apeco said, has an estimated budget of $4,800 per hectare, with projections that the bamboo planted inside the farm will be ready for harvest within a period of five years.
“This collaboration exemplifies our dedication to fostering public-private partnerships that drive positive change for the Filipino people. Our true strength is built upon the involvement and passion of our community,” Apeco president and chief executive officer Gil G. Taway IV said in a recent statement.
P1.2-B farm up for development
According to the Apeco, the bamboo plantation planned inside the nearly 13,000-hectare estate will be developed together with the local community.
“As we continue our course onward and upward, we accept that true success can only be achieved when every member of our community is empowered to contribute and to thrive,” Taway IV said further.
The management of the economic zone said it sees the value of bamboo in the market, highlighting its versatility and sustainability.
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The Apeco said that bamboo holds “immense potential” as a key driver of economic development and environmental conservation, adding that both parties intend to harness its unique qualities to create a wide range of value-added products, such as textiles, furniture, and even structural construction materials.
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The entry of Kapwa in Apeco, which currently has more than 10 locator firms, marks the fourth company to locate inside the economic zone under Taway’s administration.