NEWSFLASH

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DISINI PROPERTY TO BECOME ABRA ECOZONE

Bangued, Abra, Oct. 21, 1997 - The sequestered 34-hectare property of Marcos associate Herminio Disini will be converted into a special economic zone. The Philippine Economic Zone Authority has announced approval of a plan by the Asset Privatization Trust (APT) for the former site of Cellophil Resources Corporation, which used to manufacture materials for corrugated boxes and cement sacks.

With the ecozone license, the APT hopes to attract partners for a joint venture agreement to develop the property, which still has existing infrastructure and facilities what could be of use in the proposed ecozone.

The APT expect full development to be finished in two years, considering the infrastructure it inherited from the Disini firm: a factory building and warehousing complex, power sub-station and water treatment complex.

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