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Chinese firm to put up P1B cassava plant

Thursday, July 03, 2008
By Ben O. Tesiorna


A CHINESE company is putting up a cassava processing plant in Davao Oriental to the tune of P1.2 billion.

Governor Corazon Malanyaon said the investment is so far the biggest in their province that is now operational.

She said that aside from the processing plant, Guangzhi State Farm is also developing 15,000 hectares of cassava plantation in six towns namely, Banaybanay, Lupon, San Isidro, Governor Generoso, Mati City and Tarragona.

Malanyaon said the Chinese firm is allotting P600 million more for the development of the cassava plantation.

She said the coming in of foreign investors in their province is an indication that Davao Oriental's investment promotion effort is already taking off.

Aside from the Chinese firm, a Spanish firm is also set to develop thousands of hectares for their biofuel project in the said province that would entail $200 million investment.

The Pujada Nickel Mining project in the City of Mati is another big project with a $1.5 billion investment from an Australia-based mining company BHP Billiton.

Malanyaon, however, said that she is still not counting on the biofuel and mining projects as they have still not started their operation.

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