THE UNIVERSITY of Science and Technology of Southern Philippines collaborated with the Philippine Veterans Investment Development Corporation Industrial Authority Board for the Usufruct Agreement.

The pact, which covers for 25 years, pertains to the allocation of a site inside the PHIVIDEC Industrial Estate in Villanueva, Misamis Oriental for USTP Villanueva campus.

Since last year, university President Dr. Ambrosio CulturaII led a series of meetings and consultations with the PHIVIDEC Industrial Authority to finalize the pact.

“USTP will establish a five-hectare campus inside the PHIVIDEC Industrial Estate that will complement with the locator industries in the PHIVIDEC Economic Zone,” the university said.

“With the agreement, PHIVIDEC Industrial Authority shall have a seat in the Advisory Council of the Technology Business Incubation (CDO b.i.t.e.s. Program),” it added.

USTP said the pact was approved last month during the PHIVIDEC Industrial Authority Board Meeting with PHIVIDEC Administrator Jose Gabriel M La Viña.

PHIVIDEC Industrial Authority is a government fully owned and controlled corporation which manages the 3,000 hectare PHIVIDEC Industrial Estate in Villanueva, Misamis Oriental.