BOI approves three projects worth P416-M

The Board of Investments (BOI) approved three new projects with a combined investment worth P416 million in April this year.

The biggest, with P200 million in new capital, is an integrated rice production project of a locally-owned firm El Costa Realty Development Corp. The project, scheduled to start commercial operation in November this year, is expected to produce top of the line rice that will be classified into three grades and then blended to suit market demand.

The El Costa rice production project will be located in Lebak, Sultan Kudarat in Mindanao and is seen to produce 216,000 bags of milled rice annually.

The project is expected to create employment for 795 workers.

The other BOI-approved project is that of Technol Eight Philippines Corp., a Japanese-owned firm, which will engage in heavy fabrication of engineered products for industrial application.

The project, with investment worth P110 million, will produce stamping die, jigs and fixtures measuring from 0.3 meter to 2.5 meters in length.

Its plant will be located in the Laguna Technopark in Binan, Laguna and is expected to start commercial operation in December this year.

The third project is the P106 million information and communications technology (ICT) learning institution of Customer Relationship Management Specialists Inc.

Customer Relationship plans to put up an educational institution to address the insistent demand for excellent customer service which would make the Philippines an ideal location for effective call center operations.

The firm, which is 100 percent Filipino-owned, intends to train 14,650 operators a year.