Mindanao-based power producer Alsons Consolidated Resources Inc. (ACR) said it has seen growing interest in Mindanao among investors, especially in the energy sector.
Joseph Nocos, ACR vice president for power development, told reporters in an interview as the incoming President hails from the region, Mindanao is back on the radar of investors.
“The Mindanao companies will have to see the policy of this new government about mining and agriculture—all major sources of growth in Mindanao.
“In agriculture, we need to assess the priorities and then when we decide that this is going to be our new priority, that realization and its fruits will come later,” Nocos said.
He cited the banana, which has been for the longest time a thriving produce in Mindanao but is now at risk because of the Panama disease.
“You read up on that, it’s a major concern on banana in the world. That’s a threat. So if you try to understand what else is a source of economic growth in Mindanao, mining,” Nocos said.
“We need to look for long-term sustainable growth focusing on Mindanao. And we need to understand what are the assets of Mindanao—agriculture and mining,” he said.
Agriculture and mining need power to attain full potential, but the available power right now is really just enough to answer present need.
The power situation in Mindanao is kind of iffy right now even if there are generating facilities coming on line this year.
“We will know it when the power plants are already running, and we will see it how the plants are being dispatched,” Nocos said.
“Mindanao will be an interesting case study for how a competitive and privatized and regulated industry works,” he added.