BOI grants perks to P26.7-B projects

By Ma. Elisa P. Osorio (The Philippine Star) Updated May 27, 2011 12:00 AM

MANILA, Philippines - The Board of Investments (BOI) has granted incentives to five projects with a combined worth of P26.7 billion.

One of the projects, Therma South Inc. (TSI), an affiliate of Aboitiz Power Corp., is looking at operating a 300-MW coal-fired power plant in Brgy. Inawayan, Sta Cruz, Davao del Sur and Brgy. Binugao, Toril, Davao City.

The expected power output will be sold to TSI’s customers like Davao Light and Power Corp., Cotabato Light and Power Corp., DASURECO, DORECO, delivered via the Mindanao Grid of the National Grid Corp. of the Philippines (NGCP) starting at P 4.732/kwh on the first year upon ERC approval.

The project will employ a total of 121 personnel and will generate total investment of P 24.945 billion covering pre-operating cost, site preparation and acquisition and installation of equipment which will be funded by 30 percent equity.

Filinvest Land Corp. on the other hand, has two mass housing projects with a combined investment of over P1 billion.

The first proposed condominium project, Bali Oasis-Bldgs. 3 &4 will be located at Marcos Highway, Brgy. Santolan, Pasig City. The firm will develop 9,043 sq. m. of land and will construct two medium-rise buildings. These buildings will accommodate a total of 320 housing units and will be considered as low-cost/economic housing units with package price ranging from P 1.41 million to P 2.5 million per unit.

The project involves a total investment of P 570.935 million, which covers site acquisition and development, condominium construction, acquisition of equipment, pre-operating expenses and working capital. The proposed project will generate 94 personnel.

The other proposed subdivision project, Villa Monserrat III will be located at Brgy. San Juan, Taytay, Rizal. The firm will develop a 7.5276 hectares of land and will construct 256 low cost/economic housing units with package price available at P2.571 million per unit. The housing unit will be single-detached with floor area of 118 sq.m.

The project involves a total investment of P448.574 million, which covers site acquisition and development, house construction, pre-operating expenses and working capital.

Meanwhile, Oriental Vision Mining Philippines Corp. has proposed a nickel ore mining project, also referred to as the “Palhi Nickel Project.”