Monday, March 06, 2006
Malaysian firm eyes P600M processing plant in S. Kudarat
KORONADAL CITY -- Negotiations are now ongoing for a Malaysian company to put up a P600 million palm oil processing plant in Sultan Kudarat province, a high ranking provincial official confirmed Wednesday.
Sultan Kudarat Governor Pax Mangudadatu said the Malaysian firm reportedly plans to put up another palm oil processing plant in the province to boost production.
"Hopefully, we can have the contract signed by next month for the construction of the facility," he said.
Mangudadatu said Kenram Industrial Development Inc. could no longer cope with the processing of oil palm fruits into crude palm oil.
Oil palm plantations in Sultan Kudarat are concentrated in the capital town of Isulan and Tacurong City.
More than 4,500 hectares of land are planted with oil palm in these areas.
Mangudadatu said the Malaysian firm's investment would not only benefit his province but also its neighboring province of Maguindanao.
The governor claimed that foreign investors' interest in the country "was not affected" by the political turmoil in Manila and the recent declaration of President Gloria Macapagal-Arroyo of a national state of emergency.
Oil palm industry is one of the key investment areas being pushed not only by the province but also by the regional trade and industry department. (RBS)
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(March 6, 2006 issue)
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