Conceptualization and Investment of the Masinloc Project
- A consortium led by Smith Group Gexis, Inc. proposed the Masinloc Project.
- The project requires at least a US$2 billion investment.
Objectives of the Masinloc Project
- Aim to develop Masinloc Municipality into an international transshipment port and a major industrial-commercial hub.
- Expected to contribute significantly to the economic development of Central Luzon.
Agreements and Endorsements
- MOU signed in March 1997 between the investor consortium and Province of Zambales.
- Sangguniang Panlalawigan of Zambales unanimously approved the MOU (Resolution No. 97-315, July 14, 1997).
- Regional Flagship Team III endorsed the project favorably on January 14, 1998.
- Formal request for Presidential endorsement made on August 31, 1998.
Coordination with Government Agencies
- The project requires coordination and approvals from various government bodies including:
- Department of Public Works and Highways
- National Economic and Development Authority
- Department of Transportation and Communications
- Department of Trade and Industry
Granting of Flagship Status and Project Components (Section 1)
The Masinloc Project is granted flagship status with eight major components:
a. Masinloc Economic Industrial Park
- Development of at least 1,500 hectares for light and medium industries.
- Inclusion of 1,000 hectares for socialized and industrial housing communities for relocatees and workers.
b. Masinloc International Transshipment Port
- Development of Masinloc harbor into an international port with modern facilities.
- Capable of accommodating container vessels and bulk carriers.
c. Iba-Tarlac Tollway and Related Infrastructure
- Construction of a tollway connecting Zambales and Tarlac through the mountain range.
- Possible tollway spur to Clark Field, Angeles City for airport and seaport linkage.
- Possible cargo and passenger rail line alongside the tollway with multimodal terminals.
d. Central Luzon Food Terminal Complex
- Conversion of Masinloc fishing wharf into a modern food handling, storage, and transport facility.
- Includes the Masinloc International Fishing Port.
e. Ship Building Complex
- Establishment of a non-polluting ship-building industry.
- Facility to build world-class sea vessels.
- Dry-docking facility for international tankers and bulk carriers.
f. Resort Development
- Development of resorts on the three islands within Masinloc Bay.
- Other coastal resorts and a mountain resort at Mt. Tapulao.
g. Telecommunication Tower
- Development of Mt. Tapulao peak for a telecommunications tower to enhance regional infrastructure.
h. 100 MW Power Plant
- Construction of a power plant with an estimated capacity of 100 MW to support the project and nearby areas.
Implementation Oversight (Section 2)
- The Presidential Committee on Flagship Programs and Projects (PCFPP) is tasked to ensure efficient and timely implementation.
- The project is to be treated as an unsolicited proposal under RA 6957 as amended by RA 7718.
- The PCFPP will coordinate government agency participation and cooperation.
Effectivity (Section 3)
- The Executive Order takes effect immediately upon signing.
Signatories
- Signed by President Joseph Ejercito Estrada and Executive Secretary Ronaldo B. Zamora on September 28, 1998, in Manila.