A PETROCHEMICAL plant and a refinery will soon rise in the towns of Tagoloan and Villanueva, according to Misamis Oriental governor Yevgeny Vicente Emano.
Emano said Monday about 200 Chinese businessmen are mulling a multi-million investments in fuel products and establish a petrochemical complex in the province.
He said businessman Alfonso Limketkai introduced him to these Chinese businessmen who came here and conducted business matching all over the country.
The businessmen particularly asked five hectares of land at Phividec Industrial Authority where the petrochemical would soon rise, the governor said.
“But aside sa 5 hectares, I also told them that there are about 3,000 hectares of land at Phividec which is still not utilized, so we agreed to offer it all to the Chinese businessmen,” he said.
Emano said this investment would generate jobs, increase tax collections of the municipality and the province, as well as give indirect benefits.
“We expect that there will be more establishments which will be built in our municipalities, given their potentials,” he added.
Last week, a group of Korean investors donated thousands of medicines for the patients in the 8 provincial hospitals in the province.
The Korean company, Oryzaecare Corporation, led by Dr. Jun Myungha, donated medicines like 10 boxes of amoxicillin, captopril, chlorephenamin, clindamycin, mefenamic acid, vitamin B, among others.
Also, the Koreans supported the province thrust in sericulture, particularly the planting of mulberry trees as food for silkworms.
According to Myungha, they will conduct studies to the mulberry plant, which he said, can be a cure for diseases like diabetes.
He also bared that foreign herb, such as ginseng could grow in the land of Misamis Oriental, given the right microorganism in the soil.
Myungha also committed to lecture how to grow herbs for medicinal purposes.
Published in the Sun.Star Cagayan de Oro newspaper on March 21, 2017.