28/09/2005 ZAMBOANGA CITY (Minda News)-- Malaysian and Filipinoinvestors are pouring in as much as P16.7 billion in oil palm plantationin three provinces in Western Mindanao.The investors have identified vast areas ideal for oil palm plantation inthe provinces of Zamboanga Sibugay, Zamboanga del Sur and Zamboanga delNorte.

The Alpha and Firsha Properties Development Corp., a Filipino-ownedcompany based in Dumalinao, Zamboanga del Sur, has linked up with theMalaysian-backed Tabun Haj-Janoub Philippines in the palm oil venture.Alpha and Firsha has so far started cultivating oil palm last year in thetowns of Lakewood, Zamboanga del Sur and Siay, Zamboanga Sibugay.

The second investor is Malaysian Han Siew King, who had served as anagronomist in the 1970s at the former Sime Darby plantation.

The third is the Filipino-owned Western Mindanao Agro-Forestry andIndustrial Development Association, Inc. (WMAFID), which PhilippineCoconut Authority (PCA) officials said has the most ambitious proposal.

PCA regional manager Antonio Bal Faustino said the Alpha and Firsha hadenvisioned to put up 20,000 hectares of land for oil palm plantation withan initial cultivation of 8,000 has. He said that Alpha and Firsha hadidentified Lakewood town in Zamboanga del Sur as its first plantationsite.

But later on, the company decided to put up only a two-hectare oil palmdemo-farm in Lakewood and shifted its focus to Siay, Zamboanga Sibugay,where they have already cultivated five hectares for oil palm.

Faustino said King has identified the province of Zamboanga Sibugay as hisplantation site that would encompass the towns of Tungawan and R.T. Lim.

WMAFID reportedly envisions to put up a 107,520-hectare oil palmplantation in the three Zamboanga provinces.

“We are carefully studying their proposals before we will give ourapproval,” Faustino said of King and WMAFID.

Faustino said that an investor has to spend P71,000 for each hectareplanted to oil palm and P250 million for each oil mill.

To sum it all, the three investors will have plantations totalling 129,520has. that would translate to P9.2 billion in investments. Counting in thethree oil mills each company will have to put up, total investments wouldreach as much as P16.7 billion, said Faustino.