Huge capitals poured for energy facilities in ARMM PDF Print E-mail
Wednesday, 18 June 2014 11:36

Three big establishments building multi-million biomass renewable energy facilities are among the top capitalists that poured in huge investments into the Autonomous Region in Muslim Mindanao from January to May this year, officials said.

The improving peace and order in the region, brought in by the religious enforcement of the ceasefire between the government and the Moro Islamic Liberation Front (MILF), had ushered in less than P2.5 billion worth of investments during the period, a report by the ARMM’s Regional Board of Investments (RBOI) indicated.

Copies of the RBOI’s report were distributed to participants to the June 17-18 International Business Forum in Bongao, capital town of Tawi-Tawi, organized by the executive department of the autonomous region.

The investments generated by the region, from January to May 2014, were 72 percent higher than that of the recorded capital inputs poured in by local and foreign investors from January to December 2013, the report stated.

“The region had only generated about P1.5 billion-worth of investments in 2013 more or less,” said lawyer Ishak Mastura, chairman of RBOI.

ARMM officials said the continuing improvements in the region’s business climate are among the noticeable dividends of the Mindanao peace process — the on-going GPH-MILF diplomatic overture in particular.

“ARMM is a potential investment hub. We are presently formulating policies, as part of our reform agenda, to beef up this `commerce and trade headway’ we are experiencing now,” said ARMM Gov. Mujiv Hataman.

He said credit must partly go to the members of the peace panels of the government and the MILF, for their unrelenting bilateral effort to find a lasting, negotiated settlement of the so-called Mindanao Moro issue.

Among the top investors that poured in more capitals into the region during the first five months of 2014 is the Lamsan Power Corporation (LPC) in Sultan Kudarat, Maguindanao.

The firm had registered a “biomass renewable energy” expansion project costing P921 million.

The plant, which has a manpower population of 301 workers, utilizes rice hull, corn husks, cobs and other agricultural wastes as fuel to generate electricity.

Next is the capital input, for a renewable energy facility project, from the Green Earth Enersource Corporation, a subsidiary of the Agumil Philippines Inc. in Buluan town in Maguindanao, with a P366 million investment mark up.

The biomass power project at the Agumil Compound in Buluan town will produce 4.5 MW of electricity needed to run the oil palm processing machinery of the establishment.

The third top capitalist is the Philippine Trade Center, also in Sultan Kudarat town in Maguindanao, which is currently constructing a power plant,  to utilize biodegradable rice hulls as fuel, which is now 70% complete.

There have also been considerable investments on petroleum business, and oil palm and Cavendish banana propagation ventures, and nickel mining activities in the autonomous region during the first semester of this year, according to RBOI.

“All in all, the region had generated no less than P2.5 billion worth of investments during the period,” said Amir Mawalil, director of the regional government’s Bureau of Public Information, citing data stipulated on documents he obtained from RBOi.