MANILA: A Philippine-Malaysian joint venture firm plans to invest 355million pesos to build a palm oil mill in the central Philippine provinceof Bohol, documents submitted by the company to the Board of Investments(BoI) show.The company, Philippine Agriculture Land Development and Mill Inc, saidthe palm oil mill would produce 29,520 tonnes of crude palm oil and 5,760tonnes of palm kernel every year. The palm kernel will be furtherprocessed to extract palm kernel oil, it said.It added that by 2012, the mill should be producing at least 87% of itsintended capacity.The company will sell its output to the domestic market as well as torefineries in Europe, Malaysia, China and India.The BoI has granted the project a non-pioneer status, which will make iteligible for tax breaks such as exemption from payment of income taxes forfour years. – AFX

Wednesday, September 5, 2001The Star