ARMM BOI okays P1.3-B oil palm project
COTABATO CITY, Philippines – An oil palm plantation will soon rise in Datu Odin Sinsuat town in Maguindanao.
The Regional Board of Investments (RBOI) of the Autonomous Region in Muslim Mindanao (ARMM) has approved the application of Gintong Ani Corp. to put up a P1.3-billion oil palm plantation in the province, officials said on Wednesday.
Gintong Ani, a Singaporean-controlled company, will initially develop a 5,000-hectare oil palm plantation in Datu Odin Sinsuat.
“It will expand up to 20,000 hectares over the next decade in several municipalities in the ARMM particularly in Talayan and Guindulungan,” the RBOI-ARMM said.
ARMM Gov. Mujib Hataman said the project would not only provide employment, but also speed up normalcy in conflict-stricken areas in the province.
RBOI-ARMM head Ishak Mastura said local and foreign investors poured in some P10 billion worth of investments, mostly in agriculture, in the region in the past three years.
Last year, Chiquita-Unifrutti, a multinational banana grower and exporter, invested P3.7 billion to develop Cavendish banana plantations in Maguindanao.
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