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Megawide Carbon Market modernization holds groundbreaking

THE Carbon Market modernization program finally had its groundbreaking on March 24, 2021after facing delays for two times.

This signals the launch of the multibillion public-private partnership project of the Cebu City government and of Megawide Construction Corp.

The groundbreaking was held at the Senior Citizens Park, the section that would turn part of the mixed-use development in the next five years.

Mayor Edgardo Labella and Megawide Executive for Infrastructure, Louis Ferrer led the momentous event.

To recall, the delay was caused by the objections of vendors of the market to some portion of the joint-venture agreement (JVA) that would allow Megawide to collect the rent of the new market and increase the rent after three years.

Only after the vendors and the city government signed a resolution that negotiations would resume after the groundbreaking, that the groundbreaking was able to push through.

“We’ve had to postpone this twice. That is okay, we actually understand. We prefer that our partners talk to us, ask us questions, and even argue with us for some major concerns and doubts. Mas okay na nga magprangkahay ta sa sugod ba because we believe that open communication is the foundation of a good relationship,” said Ferrer.

Shirley Cadinez, board director of the Cebu Vendors Credit Cooperative, said that the vendors are thankful for the city government initiative to modernize the Carbon Market since the vendors continue to grow in business in Cebu’s largest market.

Mayor Edgardo Labella thanked the City Council for their support to the project. He said that Carbon market has been the home for ages for many vendors yet remained a challenge for the government to improve.

“It has always been my vision to improve Carbon market and now it has come to fruition,” Labella said.

The city government and Megawide dropped a time capsule at Senior Citizen’s park that would signify the starting point of the construction ceremonially.

The P5 billion project is expected to finish in five years and will include a sea taxi port, boqueria, mall, a Sto. Niño chapel and city check-in for the airport, which is also managed by Megawide.