COTABATO CITY – The Board of Investments in the Muslim autonomous region in southern Philippines said two investment projects worth some P863 million are expected to be approved after it passed technical and other procedures required by laws.
Lawyer Ishak Mastura, Chairman of the Regional Board of Investments, said the projects – both in Tawi-Tawi province – are expected to be approved by the Board of Governors.
He said the Management Committee has endorsed the projects and are now up for deliberations and final decision by the Board of Governors.
Mastura said the twin investments – P741.8 million nickel-ore mining project of Chan C Mining, Inc. and the P121.25 million petroleum depot project of Tawi-Tawian Petroleum Trading Corp. – are both located in Panglima Sugala town.
He said the mining project aims to produce 1 million metric tons per year while the depot project would have a capacity of 7.6 million liters.
Mastura said they are also currently processing investment projects in Maguindanao province and among them are oil palm and banana plantations, as well as investments that seek additional capacity in renewable energy, particularly biomass power plants.
He said a potential multi-billion peso logistics center in the Port of Polloc in Maguindanao’s Parang town has likewise been proposed to the regional government by investors and is now being facilitated by the Regional Board of Investments together with port authorities.
He said Maguindanao in central Mindanao remains the top destination for investors in the Muslim region and followed closely by Tawi-Tawi in the Sulu Archipelago. (Mindanao Examiner)
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