November 22, 2016
A MALAYSIAN COMPANY is planning to invest an initial amount of $1 billion to build plants to process palm oil in Agusan del Sur, according to an official from the Philippine Economic Zone Authority (PEZA).
PEZA Director-General Charito B. Plaza said Alif Agro-Industrial, Inc. is looking for 128,000 hectares in Agusan del Sur which would be used as agricultural economic zones.
“$1 billion ang initial nila kasi (is their initial investment because) they’ll put up refinery plants to process the palm oil,” she told reporters on the sidelines of a Nov. 17 event.
Ms. Plaza said the land will be in ancestral domain areas, which is “good” for indigenous people who have been fighting for their rights.… Continue Reading ...