COTABATO CITY: The Regional Board of Investments of the Autonomous Region in Muslim Mindanao (RBOI-ARMM) has approved the application of a Filipino-Indian company to register its project to build an 8-MW capacity diesel power plant worth P831 million in Bongao, Tawi-Tawi.
Kaltimex Rural Energy Corporation (KREC), a 99.99 percent Filipino and .01 percent Indian company, vowed to provide power 24/7 through the Tawi-Tawi Electric Cooperative Inc.
The company that specializes in providing power to off-grid areas will also expand their operations in Basilan and Sulu.
Lawyer Ishak Mastura, RBOI chairman and managing head, said the registration of Kaltimex is timely since at present about 70 percent of households in the ARMM have little access to electricity.
“The region is in dire need of power especially in the island provinces of Basilan, Sulu and Tawi-Tawi, where residents miserably experience frequent daily rotational brownouts due to power shortage. This project could help address the power crisis in the region,” Mastura added.
“On the positive side, this is a huge investment opportunity for those in the power business. The region is the least penetrated market for energy-related projects in the Philippines. The Kaltimex project in Tawi-Tawi could also encourage more investors to invest in ARMM not only in energy but it could also open up to agri-fishery, processing and manufacturing projects as well,” he said.
Meanwhile, ARMM Gov. Mujiv Hataman said President Rodrigo Duterte, during his recent visit to the region, was informed of the perennial problem of electricity shortage in the ARMM.
He added that Kaltimex’s investment in Tawi-Tawi is a response to the development challenge and hopes that the national government will continue to promote investments in the energy sector and in livelihood-generating industries in the autonomous region.