Philippines: Unifrutti signs deal for Maguindanao banana farms
John Paul C. Perrine, company president, said the group’s infusion of $60 million investment “is just a start,” given a bigger plan to develop about 4,000 hectares for banana starting next year. The company is tapping two locally incorporated companies, Al-Sahar and Al-Khalifa, to set up the farms.
“We have faith (in Maguindanao as an investment area); and we believe (that the investments will grow),” said Mr. Perrine.
Mr. Perrine said the company anchored its trust in Maguindanao as an investment area after a successful banana farming venture in Datu Paglas. Datu Paglas, the town of the late mayor Ebrahim Paglas, became a model for development when the Paglas family partnered with the multinational to develop about 1,000 hectares into a banana farm.
Mr. Paglas then told BusinessWorld that among farm workers are rebels who threw their firearms and started working in the fields.
Maguindanao Gov. Esmael G. Mangudadatu, representing the areas that would be covered by the project, thanked the company for its continued trust on the province. “I hope this project can generate more employment opportunities in this part of Mindanao and I hope it will also boost the economic activities of the province,” said Mr. Mangudadatu. He added that his province has cornered about a third of the total investments in the autonomous region.
Source: bworldonline.com
