New investments in Davao, Agusan reach P14-B in Q1

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Wednesday, May 14, 2014


THE Bureau of Investments (BOI) in Davao Region reported that new investments poured in the region, including Agusan del Norte, reached P13.94 billion as of the first quarter of this year.

Based on the data released to Sun.Star Davao by BOI-Davao extension office head Gil M. Dureza, there were three investments in Davao City, two each for Davao del Norte and Davao del Sur, and one in Agusan del Norte.

These investment areas included transportation and storage, real estate, agriculture, electricity and manufacturing. These were also able to generate a total of 1,320 jobs.

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Investments in Davao City included a P656.14 million real estate project by Steward Home Development Corp.; a P157.31 million real estate project by Kim Guan Realty Development Corporation; and a P353.76 million investment on the operation of district cooling system of Philippine Integrated Energy Solutions, Inc.

Both investments in Davao del Norte are all into transportation and storage. These are the P2.65 billion investment of San Vicente Terminal and Brokerage Services, Inc. in Panabo City and the P5.72 billion investment of Hijo International Port Services, Inc. in Tagum City.

Investments in Davao del Sur are mainly agricultural based, these include a P347.01 million production of export quality Cavendish Banana of Anflo Banana Corporation in Don Marcelino and a P392.15 million manufacturing of coco water concentrate for export of Franklin Baker Company of the Philippines in Sta. Cruz.

In Agusandel Norte, Agusan Power Corporation is investing a P3.65 billion 25 megawatt Lake Mainit hydroelectric power plant in Jabonga.

Published in the Sun.Star Davao newspaper on May 15, 2014.

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