ARMM investment up despite Mamasapano clash
P863-M investments show business confidence intact after the Mamasapano incident
COTABATO CITY (06 February 2015)-The recent incident in Mamasapano in Maguindanao failed to weaken the enthusiasm of investors over prospects of pouring money in the Autonomous Region in Muslim Mindanao.
Two projects with a combined value of P863.05 million are now up for final approval, the ARMM Regional Board of Investments (RBOI) announced today after the go signal issued by the board’s management committee (Mancom).
The two projects have been cleared of technical and procedural hurdles, said RBOI. The endorsement by Mancom means the projects will now go through deliberations and possible approval by the Board of Governors of the RBOI who will meet before the end of the month.
The said projects are the P741.8 million nickel-ore mining project of Chan C Mining, Inc. in Panglima Sugala in Tawi-Tawi, and the P121.25 million petroleum depot project of Tawi-Tawian Petroleum Trading Corporation, also in Panglima Sugala. The mining project is expected to produce 1,000,000 MT of nickel per year, while the depot project has a 7.6 million liters capacity.
And despite the Mamasapano incident, RBOI is currently processing investment projects in Maguindanao, particularly on renewable energy and oil palm and banana plantation. RBOI is also assessing the multi-billion peso logistics center proposed at the Port of Polloc in Parang, Maguindanao.
In ARMM, Maguindanao remains a top investor destination, followed closely by Tawi-Tawi, RBOI said. (Bureau of Public Information)