The master plan for the copper industry area to be built by Leyte Ecological Industrial Zone (LEIZ) is already in progress, the Board of Investments (BoI) said.
BoI oversees the development of the plan that commenced last month and is targeted for completion in February 2020.
Palafox Associates had been awarded the contract to develop the LEIZ master plan that will identify areas in the province of Leyte where copper processing and allied activities may be put up.
The plan is a first step toward a feasibility study which will then be used as promotion to developers and locators to invest.
“The establishment of the LEIZ and development of a copper industry cluster in Leyte serves as our medium to long-term strategic economic objective consistent with the agency’s industry development mandate,” Trade Undersecretary and BoI Managing Head Ceferino S. Rodolfo said.
Rodolfo also explained that the plan can be used to showcase project for the agency allowing the full integration of the Philippine copper industry and its allied industry.
Grouping the industry in the LEIZ projected to lower logistic costs and offer steady power supply with Leyte’s hosted geothermal power plant that is one of the biggest in the country.
The BoI managing head also assured that the plan aims to entice carbon-neutral companies to ensure the environment conservation and protection of those locations that will be chosen for the copper industry area.
The Copper Industry Road Map, a government rehabilitation effort after Typhoon Yolanda, leads to the development of the LEIZ master plan which is one of its objectives.
It was completed in 2012 and aims to promote the integrated development and competitiveness of copper and other related industries in the region.
Economic activity, more opportunities for micro, small and medium enterprises, and job seekers is expected to soar due to the LEIZ in the province.
