MANILA - Universal Robina Corp said Monday it agreed the city government of Passi, Iloilo to use a portion of its property for a road that will lead to a proposed economic zone.
The deal will give the local government the "right and privilege" to use 40,329 square meters of land owned by the Gokongwei-led snack food maker, Universal Robina told the stock exchange.
“This is our way of giving back to a community that has been a gracious and generous host to us. It is our hope that through this effort, Passi City can achieve its goals to bring growth and prosperity to its population,” said URC president Lance Gokongwei.
Passi in central Iloilo is a farming town that grows sugar cane, rice and pineapples.