Atty. Gil Taway IV, president and CEO of Aurora Pacific Ecozone and Freeport Authority (APECO), expressed hope they will be granted a bigger budget allocation of as much as PHP3 billion for 2027 as the Freeport ramps up completion and implementation of various abandoned/unfinished projects.
During a press conference, Taway said they are looking at PHP2 billion to PHP3 billion budget under the 2027 General Appropriations Act.
For this year, APECO has a smaller PHP256 million budget and a proposed PHP262 million allocation for 2026. Under its charter, APECO has an approved P10-billion capitalization, but only P1.4 billion have been released since its creation 18 years ago.
Taway believes that the national government and Management and Congress have appreciated their efforts in the implementation of good governance measures and accountability in the use of government resources since his appointment as APECO chief in October 2023.
Aside from addressing governance issues and accountability, Taway also said that one thing Congress and the government would be looking into is the absorptive capacity of APECO once given a larger budget.
“That is why we are fast-tracking the projects to show we have the absorptive capacity,” he said.
Given the various projects, some completed and ongoing, Taway also expressed confidence they are now in a better position to earn their own revenues in three to five years.
The freeport has various projects with nearly PHP800-million abandoned or unfinished projects by the previous APECO administration, which should have been funded under its PHP10-billion approved capitalization when it was created in 2007.
These projects include the ongoing PHP439 million corporate campus development (CCD) in Casiguran, which has several components, and the unfinished corporate campus building (CCB) with original project cost of P75 million.
The CCD has remaining budget of PPHP100 million while CCB still has PHP17 million. The two developments are now consolidated under CCD. Project components include a structure beside the admin building, two ready for occupancy/ready for fit-out office units, and the APECO Grand Lagoon at a cost of PHP67.6 million. Other projects include the APECO Hotel and a 1,500 capacity convention center.
They have also an ongoing underground power distribution line wherein phase 1 is already 90 percent complete and phase 2 at 78 percent complete.
APECO has also its water project, the PHP60 million central water supply and reservoir phase 1, which is for approval by the board and permitting from the National Water Resources Board for water distribution purposes. Phase 2 of this project has cost of PHP30 million and is already 87 percent complete.
Phases 1 and 2 of the sewerage treatment plant have total combined cost of PHP75 million. The APECO fire station project has already been completed with a project cost of PHP12 million and ongoing procurement of fire trucks and ambulance for an estimated cost of PHP15 million.
The JPEC Villas, originally designed as a retirement haven, with P20 million budget for upgrading, is set for Board presentation on July 24. APECO has a memorandum of agreement with its proponent for 70 percent sharing in their favor and 30 percent for JPEC.
Other projects include the materials recovery facility, upgrades of APECO Villas and Residences, Super Health Center, and expressways and road construction.
