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Davao Bay Coconut Oil Mills Inc. has secured tax
incentives and other perks from the Board of Investments (BOI) for
the construction and operation of a manufacturing plant.
According to documents submitted
to the BOI, the company is investing P358.41 million for the
construction of 14 copra expellers that will produce crude coconut
oil and copra cake as a by-product.
Davao Bay plans to start
commercial operation by July next year, and expects to generate 66
new jobs within the vicinity of the project.
“These products will be sold
and supplied to the domestic market in Visayas and Mindanao
region,” the firm said.
Crude coconut oil is a vegetable
oil extracted from dried coconut meat and generally used as raw
material in the production of edible oil, and specialty oil products
such as lard, shortening, baking fats and margarine. It is also used
in the manufacture of soap and soap products and for the preparation
of important fatty acid derivatives.
Copra meal, mainly used in animal
feeds, is produced after crude coconut oil is extracted by the use
of screw shaft expellers, with its high protein, carbohydrates and
fat content.
The company said the project will
also help increase the income of coconut farmers in the locality and
immediate areas. The farmers are expected to enjoy a higher farm
gate price when the company offers premium copra price for direct
deliveries.
--Chino S. Leyco
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