Thursday, July 13, 2006
P2B in pipeline with investments agency
MORE than P2 billion worth of new investments as of this month, which are being considered for granting of incentive packages, are in the pipeline with the Board of Investments (BOI) in Davao City.
Gil Dureza, BOI head for Regions 9, 10, 12, said two of the projects are registered by Sumitomo Corporation worth P1.164 billion that are completing documentary requirements.
He said these two projects are the transport service for cargo handling in Tibungco, Davao City worth P930 million and the vapor heat treatment (VHT) plant also in the same area with P234 million investments.
Both projects are expected to be operational by January 2007 even as Dureza said that construction of the facilities had started.
Dureza said that the other project under Sumitomo Corporation that was already operational since January 2006 was the plastic plant with an investment worth P275 million.
However, Dureza said Sumitomo Fruits Corporation will also embark on the banana industry and the areas being considered are Davao City, Cotabato, Bukidnon and T'boli.
In an earlier report, Sumitomo Fruits, through its president Paul Cuyegkeng, informed President Gloria Macapagal-Arroyo of their expansion of the banana plantation business in Mindanao where total capitalization infused since December 2004 is about P6.5 billion.
Other projects in the pipeline that are being reviewed at BOI Davao are the P3 million medical transcription project in General Santos City, P15 million mango processing plant of Stargate Corporation in Bunawan, Davao City, P185 million rubber plantation in Makilala, North Cotabato, the P244 million Australian owned gold refining company in Bayugan 3, Agusan del Sur.
Also being reviewed are the P52 million VHT Plant of Southern Philippines Fresh Fruit in barangay Ilang, Davao City, P35 million Tri-star Plastic Processing Plant in Toril also in Davao City, and the P105 million expansion project of Best Farm Incorporated in Marbel, South Cotabato.
The Vigor Development Corporation, which invests in hybrid corn seed production of P1 million has been operational since February this year.
Dureza said they may not be able to surpass the 2005 investments of over P5 billion the biggest of which was the Aboitiz investment on hydro power project worth about P 4 billion in Sta. Cruz, Davao del Sur however they consider this year as another good year for new investments.
For Bisaya stories from Davao. Click here. (July 13, 2006 issue)
Write letter to the editor.Click here.
Join the Sun.Star message board.Click here. |
