ARMM registers P863 M Investments in 1st Quarter of 2015
COTABATO CITY, February 27, 2015 – A total of P863 Million worth of projects were approved by the Regional Board of Investments – ARMM during its Joint Board and ManCom Meeting on February 20, 2015 in Davao City. The projects approved for RBOI registration were Tawi-Tawian Petroleum Trading Corporation and Chan C Mining Incorporated. Both companies basedinPanglimaSugala, Tawi-Tawi are expected to provide 553 employment opportunities to residents of the area.
Tawi-Tawian Petroleum Trading Corporation is intoimportation and distribution of petroleum products with a project cost of P121.25 million generating 56 jobs. The company will operate at Barangay GaringBaunoh where the 3 oil tanks depots are currently being constructed with a capacity of 7.6 litres per annum. It is expected that the whole province of Tawi-Tawiwill soon enjoy cheaper petroleum products that will eventually expand to Sulu province.
Chan C Mining Incorporated is new mining operator in the Province of Tawi-Tawiinvesting P741.8 million and to create497 jobs. The company is engagedin mining and quarrying of nickel ore to be exported to China. The company’s operation is located atBarangays Karaha and Dungonwith a capacity of 1,000,000 WMT per year.
Contrary to the views of many that there might be a slowdown in the influx of investments in ARMM due to the Mamasapano incident, lawyer Ishak V. Mastura, Chairman/Managing Head of RBOI countered on this. He said that despite the Mamasapano incident, investors’ confidence is still high. “In fact, there are fresh investments coming in Maguindanao with a project cost of P 1.3 billion on palm oil and a P 2 billion project on banana. A multi logistic sub – an assembly auction of heavy equipment company also signified their intention to do business in ARMM”,Mastura added.
Atty. Mastura further said that aside from fresh investments, a string of projects in the ARMM are in the pipeline this year coming from some of RBOI-registered firms. Some of these are the expansion of the capacity of a biomass power plant, rehabilitation of a starch factory, expansion of banana plantations, and the construction of an oil depot at the Port of Pollocin Parang, Maguindanaoby Iron Blaze Corporation.
Chairman Mastura expressed optimism that despite the region in a spate of the Mamasapano clash, the investments generation effort of RBOI is not affected. (Source-RBOI)