NEWSFLASH

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P1.2 BILLION FOR LEYTE ECO-T0URISM, TRADE ZONE

Manila, Nov. 16, 1997 - The Philippine Economic Zone Authority has approved a P1.213 billion project in Calubian, Leyte, which involves an eco-tourism, commercial and service establishment, agro-industrial estate, export processing zone and free trade zone.

The 2,300-hectare site, owned by the MRC Allied Industries of the Osmena family, will also have a golf course to be designed by a leading gold luminary. The contract for the design will be signed in Florida in a few weeks.

Major attraction of the eco-zone is the preservation of existing forests in the site, which teems with wildlife. The waters around the area are also rich in marine flora and fauna.

The project will benefit greatly from the 1,000-megawatt geothermal plant located in the area.