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Philippines

Three companies invest P468 mln for banana plantation in former conflict zone

What was a disputed zone between Moro rebels and government forces in the small town of Matanog in Maguindanao province has now been transformed into a banana plantation with a P468-million (€8.43 mln) outlay from three companies.

Regional Bangsamoro Board of Investments Board Governor Mohammad Omar Pasigan said in a statement: “The whole fields before were once a war zone and now an economic zone in the region.”

The three firms operating in the area are Usman Banana Farm-Cardava, which invested P277.7 million, Tayan Banana Farm-Cavendish with 128 million, and Abai Banana Farm-Cavendish, P62 million. A combined 519 locals have been employed, mostly former combatants, the board said. 

[ P1 = €0.018 ]

Source: bworldonline.com


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