MARKET DEVELOPMENT
MinDA Welcomes P1.3-billion ARMM Palm Oil Plantation
MinDA Welcomes P1.3-billion ARMM Palm Oil Plantation
29/01/2016 (Manila Bulletin) – The approval of the P1.3-billion palm oil plantation project in the Autonomous Region in Muslim Mindanao (ARMM), particularly in Maguindanao was recently welcomed by the Mindanao Development Authority (MinDA), indicating of the region’s improved governance.
“This influx of investments indicates improved governance in the ARMM thereby increasing investor confidence, as demonstrated by the region’s sustained investment growth under the Aquino administration,” said MinDA Chairperson Luwalhati Antonino.
The Regional Board of Investments (RBOI) of ARMM approved the palm oil plantation project of Gintong Agri-corporation, a subsidiary of Agricola Holdings, a company that operates oil palm and rubber estates across Central America, West Africa and Southeast Asia.
Under the project, the company will initially develop 5,000 hectares of palm oil in Datu Odin Sinsuat, Maguindanao and will eventually expand up to 20,000 hectares covering the municipalities of Talayan and Guindulungan in the next decade in the same province.
Antonino also assured the investors of the necessary infrastructure support that are also in place for ARMM, primarily focusing on the gateways for the ARMM areas.
“Under the Mindanao Development Corridors Program being coordinated by MinDA, the revitalization and development of the Polloc port and Awang Airport are among the priority projects in the ARMM,” Antonino said.
She added that the government’s long-term plan is to fully connect all regions in Mindanao through various public-private partnerships projects to spur massive development and inclusive growth across ARMM and the entire Mindanao.
Meanwhile, Ishak Mastura, ARMM RBOI chair said that region’s investment policy, along with its improving peace situation has significantly contributed to the entry of big ticket investments like the Gintong Agri Corporation.
He added that cooperative members from the ARMM are eyed to own and manage the lands, while the company will fund the development of the plantation as well as the technical training for the cooperative farmers.
The entire project is estimated to generate 1,000 jobs for ARMM once the plantation is fully operational.
Gintong Agri Corporation will also build and operate oil mill facilities in Maguindanao that will produce crude palm oil and palm kernel oil.
“This influx of investments indicates improved governance in the ARMM thereby increasing investor confidence, as demonstrated by the region’s sustained investment growth under the Aquino administration,” said MinDA Chairperson Luwalhati Antonino.
The Regional Board of Investments (RBOI) of ARMM approved the palm oil plantation project of Gintong Agri-corporation, a subsidiary of Agricola Holdings, a company that operates oil palm and rubber estates across Central America, West Africa and Southeast Asia.
Under the project, the company will initially develop 5,000 hectares of palm oil in Datu Odin Sinsuat, Maguindanao and will eventually expand up to 20,000 hectares covering the municipalities of Talayan and Guindulungan in the next decade in the same province.
Antonino also assured the investors of the necessary infrastructure support that are also in place for ARMM, primarily focusing on the gateways for the ARMM areas.
“Under the Mindanao Development Corridors Program being coordinated by MinDA, the revitalization and development of the Polloc port and Awang Airport are among the priority projects in the ARMM,” Antonino said.
She added that the government’s long-term plan is to fully connect all regions in Mindanao through various public-private partnerships projects to spur massive development and inclusive growth across ARMM and the entire Mindanao.
Meanwhile, Ishak Mastura, ARMM RBOI chair said that region’s investment policy, along with its improving peace situation has significantly contributed to the entry of big ticket investments like the Gintong Agri Corporation.
He added that cooperative members from the ARMM are eyed to own and manage the lands, while the company will fund the development of the plantation as well as the technical training for the cooperative farmers.
The entire project is estimated to generate 1,000 jobs for ARMM once the plantation is fully operational.
Gintong Agri Corporation will also build and operate oil mill facilities in Maguindanao that will produce crude palm oil and palm kernel oil.