Investors come flocking in ARMM

SIX INVENTORS have bared plans to pour investments in the Autonomous Region in Muslim Mindanao (ARMM) as of the first quarter, the area’s Regional Board of Investments (RBOI) reported.

In the quarterly accomplishment report of RBOI-ARMM, among those firms include Unifrutti Inc., a company led by Eric Lee; Lamsan Power Corp.; DS3 Management; Gintong-Agri and Al-Sahar Agri-Ventures Inc.

Unifrutti Inc., for instance, proposed to set up banana plantation project in Maguindanao while Eric Lee’s company planned to establish a manufacturing business on electronic motors at Polloc Port in Parang, Maguindanao.

On helping to increase power supply, Lamsan Power Corp. will invest in setting up its second power plant with a capacity of 5.5 megawatts in Simuay, Sultan Kudarat. This project is estimated to cost at P687 million.

DS3 Management also planned to establish oil depot in Parang, Maguindanao which would be utilized by Iron Blaze Inc. for their petroleum trade. The construction of the oil depot will amount to P400 million.

Gintong Agri will set up its oil palm plantation project in Datu Odin Sinsuat in Maguindanao while Al-Sahar Agri-Ventures planned to invest into banana cavendish plantation in the municipalities of Mangudadatu, Talayan, Barira and Buldon in Maguindanao.

Al-Sahar Agri-Ventures’ project is expected to offer 5,200 jobs and cover 2,600 hectares of lands.

As of the first quarter, RBOI-ARMM registered P863.05 million worth of investments.

The board registered the projects of Tawi-Tawian Petroleum Trading Corp. and Chan C Mining Inc., both in Tawi-Tawi. Tawi-Tawian Petroleum Trading Corp. is into importation and distribution of petroleum product while Chan C Mining Inc. is involved in mining and quarrying of nickel ore.

The two new investments, the accomplishment report of RBOI-ARMM cited, will generate 553 jobs.

“These projects are expected to bring about gainful employment, provide income for the people of ARMM, address security issues and most importantly sustain the economic growth of the region,” RBOI-ARMM’s report explained.

Posted in Business