Peace deal sends ARMM investments to all-time high

MANILA, Philippines – Invesments in the Autonomous Region in Muslim Mindanao (ARMM) reached record-high of more than P2 billion in the first 6 months of the year.

The Regional Board of Investments (RBOI) of the ARMM registered P2.532 billion worth of projects from 7 firms in the January to June period, 72% higher than the P1.463 billion investments registered in full-year 2013.

The ARMM government attributed the jump in investments to the breakthroughs in the peace process and ongoing reform efforts.

“ARMM is a potential investment hub. And we are continuously looking at policies that could further make the region investor-friendly,” said ARMM Governor Mujiv Hataman. (READ: Bizmen on Mindanao’s dev’t: We must do our part)

​The top investors in the region are into biomass energy projects.

Based in Sultan Kudarat, Maguindanao, Lamsan Power registered a pioneer biomass renewable energy project worth P921 million. The power plant will utilize rice hull, cornhusks, cobs and other agricultural wastage from its own cornstarch plant with a capacity of 15 megawatts (MW). Power from the plant will augment the reserves of the National Power Corporation and the Mindanao grid.

Green Earth Enersource Corporation, a subsidiary of Agumil Philippines Inc., will also build a biomass renewable energy project worth P366 million in Buluan, Maguindanao. With capacity of 4.5 MW, the plant will support the energy needs of Agumil’s milling and crushing plants in Buluan, while the excess power will be sold to the grid.

Another huge investment came from the Philippine Trade Center (PTC) for the construction of a P486-million power plant that will be fueled by rice hull. The plant, which is now 70% complete, will have a capacity of 3 MW.

Other investments included:

• P520 million from SR Languyan Mining Corporation for a nickel ore mining project in Languyan, Tawi-Tawi. The project will have a capacity of one million metric tons a year.
• P170 million from Agumil Philippines for an oil palm kernel crushing plant in Buluan.
• P50 million from Power-Up Ventures Inc. for the construction of oil depots in Polloc Parang, Maguindanao. The company is engaged in the importation and distribution of petroleum products.
• P10 million from ABSCOR Multi-Trading Company for an import and export trading business in Maluso, Basilan.

The 7 firms employed a total of 1,784 workers in the first half. – Rappler.com