MARIVELES, Bataan – The Freeport Area of Bataan (FAB) recently attracted 15 new investors, including a P150 million land development project.
The Interline Realty (IR) held a groundbreaking ceremony for its 8,157.11 square meter land development project at the FAB, the Authority of the Freeport of Area of Bataan (AFAB) said in a statement on Monday.
The investment of IR will bring in a gasoline station, a number of restaurants, an atrium and a hotel fronting the “magnificent view of the FAB’s coast line,” the AFAB said.
Named as the Cosmopolitan of Mariveles, this port side development will also boast a ferry terminal with promenades open to the FAB denizens, it added.
“This is a welcome development at the FAB for it generates much needed employment opportunities as well as answers the needs of our locators for a good place to hang out and relax after a day’s work,” said AFAB Chairman and Administrator Deogracias G.P. Custodio.
For his part, Interline Architect Ricky Solatorio III said “this development will definitely attract more investors to bring their businesses and stay at the FAB.”
Meanwhile, Custodio also disclosed that the Liberty Insurance Corporation (LIC) opened its first Bataan branch at the FAB.
“This is part of our commitment to encourage local enterprises to set up businesses that will provide our locators and the entire Freeport community with services pertinent to business operations such as risk management services,” said AFAB Corporate Affairs Manager Francis Initorio.
“Our locators and the people of Mariveles can now conveniently apply and process insurance requirements with Liberty Insurance Corp. just close at hand,” he added.
Josefina M. Salvador, first vice president and general manager of LIC, said that “Mariveles is a good market because of the Freeport Area of Bataan.”
“The FAB has been the investment destination of choice of foreign and local companies. It has recently attracted more than 15 new locators that would bring in millions of investment to the Freeport. It is set to be an economic center worthy of being the future’s answer to business,” said AFAB.
“We see good opportunity here at the FAB and in Mariveles, that’s why we want people to know that we commit ourselves to providing them the best possible insurance services and LIC Vice President for Underwriting,” it said.
LIC-FAB Branch Manager Ma. Liza Vasquez expressed her gratitude to Rep. Albert Garcia, Custodio, Mariveles Mayor Jesse Concepcion and other local officials for supporting their insurance firm.
LIC is a non-life insurance company that provides its clients with protection against losses to property and personal well-being through specialized services.
Among its insurance packages are Fire and Lightning (Allied Perils and Extended Coverage); Marine Cargo-Ocean and In-Land; Motor Car Own Damage, Theft, Voluntary Third Party Liability and Auto Personal Accident; Compulsory Third Liability; Personal Accident; Other Casualty Lines; Engineering Lines; Surety, Contractors’, Judicial, Fidelity Bonds; Custom Bond; Retleven Bonds and other kinds of Bonds.
LIC-FAB Branch is located at the 2nd floor, AFAB Administration Building, FAB, Mariveles, Bataan.
