Stock News 2011: RLC makes bid for FTI property

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Robinsons Land Corporation (RLC) has submitted an unsolicited proposal to the government for the acquisition of a 103 hectare property in Taguig City that is part of the Food Terminal Inc. (FTI) complex.

Sources said the proposal was submitted earlier this week and covers 103 or 120 hectare property of FTI in Taguig. The remaining 17 hectares of the property is already owned by the National Food Authority.

Of the 103 hectare lot, 24 hectares have been declared a special economic zone, with some parcels still subject of long-term contracts – between the Philippine Economic Zone Authority and locator firms – that would be honored even after privatization, while 79 hectares of the FTI complex are free for development.

http://www.mb.com.ph/node/298581/rlc-make