JICA to finance rehabilitation of Iloilo Fishing Port Complex
The Japan International Cooperation Agency (JICA) has approved the about P1-billion soft loan by the Iloilo Fish Port Complex that will be used to finance the latter’s rehabilitation and installation of new facilities.
Iloilo Fish Port Complex officer-in-charge Elmer Figuracion said the feasibility study of the project was already completed last year and they are preparing for its implementation in 2013.
Figuracion said among the major components of the projects are the installation of solar-powered electricity, fish processing plant and additional brick water and the rehabilitation of the existing refrigeration plant to suit the needs of local clients.
He said the solar-powered electricity is the fish port complex’s response to the high cost of electricity which when addressed will consequently encourage more investors to come in.
Further, it will encourage those who are in the fishing industry to engage in other fish-value added products for their fish products because the rentals of the facilities would be cheaper as a result of the lower electricity rate.
The fish processing plant will answer the need of the Fish Producers Association (FPA) in Iloilo whose products are designed mostly for export. Figuracion added that the facility will be built at par with the Hazard Analysis Critical Control Point or an acceptable international standard.
The project is expected to be completed in 2016.
Once completed the project is expected to encourage more investments, especially those whose markets are outside the country, aside from their existing clients, Figuracion added. (PNA)
