INQUIRER Global Nation

A KOREAN company is planning to establish a recreational facility in Lava Island located off the municipality of Cordova on Mactan Island.

The multi-billion investment will include a hotel, golf course and a marina.

Cordova Mayor Adelino Sitoy has assured Cebu Gov. Gwen Garcia that the planned investment estimated to cost at least P2 billion will not affect the livelihood of fisherfolk in his town.

Sitoy and representatives from Masillo Inc., the Korean investor, met with Governor Garcia, Rep. Pablo Garcia of Cebu’s second disrict and members of the provincial Economic Enterprise Council (EEC) and the Provincial Reclamation Authority (PRA) in a special meeting held on Dec. 23 at the Cebu International Convention Center in Mandaue City.

“If implemented, the development project will generate employment opportunities and boost the tourism industry in the municipality of Cordova,” Sitoy said during the meeting.

The Dec. 23 meeting was already the second meeting that the group held in at least three months.

The EEC will have to endorse the project to the Cebu provincial board for the passage of legislation that would provide the guidelines for the conduct of the Swiss Challenge.

The PRA Cebu provincial office will also have to endorse the proposed 62-hectare reclamation to the PRA central office before this could formally be implemented.

Sitoy said the development project is expected to start in January 2009.

Charlie Cho, special project coordinator for Masillo Inc., said they intend to complete the establishment of a world-class Cordova- Cebu Golf and Resort Inc. in two years time.

The development project will start immediately after it is approved by the municipal and the provincial governments. /Reporter Doris C. Bongcac