MARAWI CITY, Lanao del Sur, Feb. 9 (PIA) -- The recent incident in Mamasapano in Maguindanao failed to weaken the enthusiasm of investors over prospects of pouring money in the Autonomous Region in Muslim Mindanao (ARMM).
According to the ARMM Regional Board of Investments (RBOI), two projects with a combined value of P863.05 million have been cleared of technical and procedural hurdles and are now up for final approval after the go signal from the board's management committee (Mancom).
The endorsement by Mancom means the projects will now go through deliberations and possible approval by the Board of Governors of the RBOI who will meet before the end of the month.
The two projects are the P741.8 million nickel-ore mining project of Chan C Mining, Inc. in Panglima Sugala in Tawi-Tawi, and the P121.25 million petroleum depot project of Tawi-Tawian Petroleum Trading Corporation, also in Panglima Sugala.
The mining project is expected to produce 1,000,000 MT of nickel per year, while the depot project has a 7.6 million liters capacity.
Despite the Mamasapano incident, RBOI is currently processing investment projects in Maguindanao, particularly on renewable energy and oil palm and banana plantation.
RBOI is also assessing the multi-billion peso logistics center proposed at the Port of Polloc in Parang, Maguindanao. (Bureau of Public Information-ARMM/APB/PIA-10)
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