Kabankalan City holds groundbreaking rites for teachers and employees' coop building
Negros Occidental (25 June) -- The ground breaking ceremonies and lowering of a time capsule for a two-storey building of the Kabankalan-Ilog Teachers and Employees Multi-Purpose Cooperative (KITEMPCO) was held recently in Kabankalan City.
The building stands on a 671 sq meter lot, corner of Coloso and Guanzon Streets where the KITEMPCO office and more office space for rent will be housed.
KITEMPCO has a total of 814 members with a total paid-up share capital of P15,141,872 and a total asset of P57,338,229.
Postal Bank represented by its manager Adolfo Mangao, Jr will provide for the funding as loaned by the cooperative. Total budget for the infrastructure is P12.7 – million.
The building is expected to be completed on December 2003.
Present during the rites were Mayor Pedro Zayco, Jr., Vice Mayor Delia Anacan, members of the city council headed by Mamerto Mayoga, one of the founding fathers of the coop; Angela Malala and Nancy Oraño, chairman and vice chairman of the board respectively.
Kabankalan City Mayor Pedro Zayco said he is very thankful to Kitempco for its big contribution to the progress of Kabankalan. The building will be a beautiful landmark in the city when completed because of its strategic location. (Kabankalan/PIA/EAD) [top]