The administrative building of the Philippine Veterans Investment Development Corporation Industrial Authority in Tagoloan, Misamis Oriental. (File photo courtesy of Phividec)
CAGAYAN DE ORO CITY – The Philippine Veterans Investment Development Corporation (Phividec) will provide housing solutions to informal settlers living within the property in Misamis Oriental province.
Joseph Donat Bernedo, Phividec administrator, said the housing project is in partnership with the Department of Human Settlement and Urban Development.
"The board (of directors) has already approved our initiative for a joint project with the Department of Human Settlement and Urban Development with the target to build around 3,000 to 4,000 housing units," Bernedo, a lawyer, said in a statement Thursday.
Bernedo said the plan would cover families living informally within the Phividec estate spanning between Tagoloan and Villanueva towns in Misamis Oriental.
The move to provide housing to informal settlers is one of Phividec's expanded programs coinciding with its 50th founding anniversary, he added.
Bernedo said the industrial estate is also preparing for the positive impact of a bigger capacity by having a larger volume port.
"If we have a bigger capacity, bigger volume port, more businesses will come in," he said.
Meanwhile, one of the locators within Phividec Industrial Authority, the FDC Utilities Incorporated, signed a lease agreement for its solar power expansion project.
Juan Eugenio Roxas, the FDC Utilities president and chief executive officer, said developing a solar power facility within the Phividec estate is their response to the government's call for additional clean and renewable energy.
"This capacity will be connected to the grid and sold to electric cooperatives who need renewable energy to comply with the renewable portfolio standard requirement of the Department of Energy," he said. (PNA)
