Some P15 billion in foreign investment has been set aside to pump prime the energy development prospects to make Albay among the national renewable energy capital of the country, a ranking official of a local electric cooperative said on Monday. Lawyer Rodolfo Bonafe, board chairman of the Albay Electric Cooperative (ALECO), said the investment fund would finance renewable energy projects within the next three to four years boosting the province energy development.

Six new bridges worth P212 million are to be built in the province of Albay. Funding for the six bridges have recently been approved under the French Protocol. The new bridges will be part of a road network that surround the Southern Luzon International Airport (Bicol International Airport) in Barangay Alobo, Daraga.

A new coastal road and seawall project in Legazpi City was inaugurated last September 30, 2009. The Legazpi boulevard extension is a scenic 4.095 kilometer seaside road that takes advantage of the panoramic view of the azure Albay Gulf, the Kapuntukan (Sleeping Lion Hill) and the surrounding islands. The road will feature a bicylcle lane and a wide promenade with landscaping and decorative lamps perfect for jogging and strolling.

The Metro Integrated Transport Terminal (MITT) started operation on Monday giving commuters from all over Albay province the experience of a world-class transport terminal. Legazpi Mayor Noel Rosal led the formal opening of the state of the art terminal l at the corner of Tahao and Alternate roads in a simple ceremony attended by top executives of the province.

Albay-based Sunwest Water and Electric Power Co. Inc. (Suweco) has adjusted upwards its planned investments for three mini-hydropower projects to P1.16 billion from the previous estimate of P729 million. Suweco told the Energy Regulatory Commission (ERC) that it had to adjust the project cost to take into account the rise in the cost of steel and other raw materials and other factors.

A P920-million road project will soon be implemented linking the coastal towns of Libon and Pioduran in the west coast side of Albay, a top provincial official said on Monday. Albay Governor Joey Salceda said he has secured the funding for the Albay West Coast Road project involving the construction of a 46-kilometer road network from the municipalities of Libon to Pioduran.

State-owned CIIF-Oil Mills Group is recommissioning starting tomorrow its P400-million copra-crushing plant in Arimbay, Legazpi City, which can immediately bring in $3.75 million in foreign-exchange earnings per month if its output is exported. Jesus Arranza, CIIF-Oil Mills president and CEO, said President Arroyo will join the local coconut farmers, community leaders, Legaspi Oil Co. chair Josefa Imperial Aquino and other officials of the Oil Mills Group in the re-opening ceremony of the facility.

The city government of Legazpi is planning to boost its water supply by tapping another raw source aside from the Yawa River: seawater. The said planned project will source water from the sea to be desalinated and purified and introduced into the existing LCWD pipelines to meet the demand of the consumers.

Accessibility to all modes of transportation has always been one of Legazpi’s advantages. The city has a bustling airport, a vibrant seaport and will soon have a new, modern and high-tech integrated land transport terminal that will serve not only the city of Legazpi but the entire Bicol Region as well. The new Legazpi City Integrated Transport Terminal will start operation in August. Wow Legazpi cornered Mayor Noel Rosal while inspecting the facility last week. Here’s a transcript of our conversation:

The Embarcadero, one of the most anticipated developments in the city of Legazpi, “soft” opened last July 18, 2009 with two locators opening its doors to the public. The Embarcadero is a waterfront development located at the harbor area of Legazpi City adjacent to the alluring Kapuntukan Hill (also called Sleeping Lion Hill).