Friday, October 08, 2004 - FOREIGN investors expressed willingness tofinance the proposed palm oil plantation planned in southern NegrosOccidental.

Roberto Montelibano, president of the Metro Bacolod Chamber of Commerceand Industry, however, said the 10,000 to 15,000 hectares from Cauayan,Sipalay City and Hinobaan, all in southern Negros as proposed site for theplantation, are still under thorough study.

Montelibano, who is currently in Manila, told Sun.Star Bacolod his staffare conducting a thorough study on the geographical and topographicalviability of the proposed site.

When asked for reaction on the statement of businessman Enrique Montillathat the palm oil industry is not geographically and topographicallyviable in Negros Occidental, Montelibano replied: "Currently, it is notsafe to say that the site we are eyeing is viable or not for palm oilplantation; I have already directed my people to conduct the survey andthat is what they are doing now."

Montelibano, who joined foreign and local investors in palm oil milllaunching in Bohol last September 29, said before the palm oil plantationin Bohol flourished, there was also a similar speculation that theplantation is not viable in the area.

"But they have a palm oil plantation now of 5,000 hectares. At least here,we are doing and proposing something as another alternative industry. Itwill also complement job creation for the province if realized," he added.

Earlier, Montilla, who has a vast plantation of palm oil in Mindanao, saidpalm oil is not suited in the province as the province is typhoon-prone.

Montilla added palm oil is a shallow-rooted plant that needs a lot ofrainfall.

It must also be planted in an area protected by hills or mountains.

He added that as far as topographical study is concerned, only theMindanao area in the country is considered the best site for palm oiltrees.