THE BOARD of Investments has given its nod to projects worth P37.7 billion in the airline, energy, housing, manufacturing and mining sectors with the potential to generate 1,809 new jobs.
The biggest project was that of Gokongwei-owned Cebu Air Inc., owner and operator of budget-carrier Cebu Pacific Airlines, for the acquisition of four brand new Airbus A320 aircraft.
The P7.5-billion project is part of the company’s re-fleeting program, which aims to have Cebu Pacific operating an all-brand new Airbus fleet. The airline’s current fleet includes 10 A319s, 11 A320s, and eight ATR 72s, all of which are registered with the BOI.
The new aircraft will be in operation by January 2011 and require 783 new personnel.
Another big project that the BOI approved was the P4.4-billion Nestlé Philippines Inc. non-dairy coffee creamer manufacturing facility at the First Philippine Industrial Park in Batangas.
The new factory, to be constructed on a 270,000-square-meter land, will process glucose syrup and hydrogenated palm kernel oil to produce non-dairy coffee creamer. The company currently imports all its non-dairy coffee creamer requirements from Thailand.
The plant will start commercial operations in June 2012 and employ 478 individuals.
Also securing the BOI nod were four renewable energy projects worth more than P1.5 billion in various parts of the country.
Sunwest Water and Electric Co. Inc. will put up three hydropower projects: the P202-million, 1.5-megawatt (MW) Hitoma 1 mini-hydro in Caramuan, Catanduanes; the P311.4-million, 2.1-MW mini-hydro in San Miguel, Catanduanes, and the P1-billion, 8-MW hydro facility in Bugasong, Antique.
The two Catanduanes plants will start operating in December and provide employment to 32 people, while the Antique facility will be commissioned in December 2013 and generate 17 new jobs.
On the other hand, Power Source Philippines Inc. will be constructing a P7.1-million biomass-run power facility in Baltaraza, Palawan. The 50-kilowatt plant will use 4.3 metric tons of coconut husks and ipil-ipil wood chips daily to generate electricity starting January 2011.
The BOI likewise gave its nod to four mass housing projects totaling P585.6 million: the P234-million Casa Regalia Inc. San Marino Classic project in Cavite, the P186.2-million Iloilo and P114.9-million Cavite developments of Property Company of Friends Inc., and the P50.5-million Havilah Properties Inc.’s Havilah Residences 2 in La Union.
An P82.4-million mining project in Surigao del Norte also secured BOI approval. The lateritic nickel ore mining project of Shuley Mine Inc. will start operating in November and employ 181 personnel.
The projects will be entitled to various fiscal and tax incentives.
The biggest project was that of Gokongwei-owned Cebu Air Inc., owner and operator of budget-carrier Cebu Pacific Airlines, for the acquisition of four brand new Airbus A320 aircraft.
The P7.5-billion project is part of the company’s re-fleeting program, which aims to have Cebu Pacific operating an all-brand new Airbus fleet. The airline’s current fleet includes 10 A319s, 11 A320s, and eight ATR 72s, all of which are registered with the BOI.
The new aircraft will be in operation by January 2011 and require 783 new personnel.
Another big project that the BOI approved was the P4.4-billion Nestlé Philippines Inc. non-dairy coffee creamer manufacturing facility at the First Philippine Industrial Park in Batangas.
The new factory, to be constructed on a 270,000-square-meter land, will process glucose syrup and hydrogenated palm kernel oil to produce non-dairy coffee creamer. The company currently imports all its non-dairy coffee creamer requirements from Thailand.
The plant will start commercial operations in June 2012 and employ 478 individuals.
Also securing the BOI nod were four renewable energy projects worth more than P1.5 billion in various parts of the country.
Sunwest Water and Electric Co. Inc. will put up three hydropower projects: the P202-million, 1.5-megawatt (MW) Hitoma 1 mini-hydro in Caramuan, Catanduanes; the P311.4-million, 2.1-MW mini-hydro in San Miguel, Catanduanes, and the P1-billion, 8-MW hydro facility in Bugasong, Antique.
The two Catanduanes plants will start operating in December and provide employment to 32 people, while the Antique facility will be commissioned in December 2013 and generate 17 new jobs.
On the other hand, Power Source Philippines Inc. will be constructing a P7.1-million biomass-run power facility in Baltaraza, Palawan. The 50-kilowatt plant will use 4.3 metric tons of coconut husks and ipil-ipil wood chips daily to generate electricity starting January 2011.
The BOI likewise gave its nod to four mass housing projects totaling P585.6 million: the P234-million Casa Regalia Inc. San Marino Classic project in Cavite, the P186.2-million Iloilo and P114.9-million Cavite developments of Property Company of Friends Inc., and the P50.5-million Havilah Properties Inc.’s Havilah Residences 2 in La Union.
An P82.4-million mining project in Surigao del Norte also secured BOI approval. The lateritic nickel ore mining project of Shuley Mine Inc. will start operating in November and employ 181 personnel.
The projects will be entitled to various fiscal and tax incentives.
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