Two firms put up P390-M investment in ARMM

COTABATO CITY: A banana plantation company and a company engaged in the distribution of petroleum are set to put up a combined P390-million investment in the Autonomous Region in Muslim Mindanao (ARMM) upon approval of the ARMM Regional Board of Investments (RBOI).

To take advantage of the increasing demands for bananas in the global market particularly in China, Japan and the Middle East, La Frutera Inc., a subsidiary of Unifrutti Group of Companies, will expand 300 hectares of Cavendish banana plantation in Pandag town, Maguindanao, investing P300 million to increase its banana production by as much as 1.2 million boxes per year.