Economy


Agriculture-related investments boost Davao del Norte




Posted on January 28, 2015


DAVAO CITY -- Industries supporting the agricultural export sector and urban development projects are bringing in some P12 billion worth of investment into Davao del Norte, according to data from the Department of Trade and Industry’s (DTI) provincial office.

International Container Terminal Services, Inc., through its subsidiary Hijo International Port Services, Inc., is expanding an existing facility in Tagum City into an international seaport and container yard, as seen here from the Banana Beach Resort, which is part of an adjacent mixed-use real estate development by Hijo Resources Corp. -- Marifi S. Jara
Romeo L. Castañaga, DTI’s officer-in-charge provincial director, said four of the projects were given incentives, including two private ports, a shopping mall and a housing project.

The biggest of these ventures is the P5.724-billion seaport and container yard being developed in the capital Tagum City by Hijo International Port Services, Inc., a firm controlled by International Container Terminal Services, Inc. in partnership with Hijo Resources Corp.

The project is located in the 760-hectare property of the Tuazon family, where a 120-hectare mixed-use real estate project is also being developed.

Another port, now fully operational, is the P2.653-billion Davao International Container Terminal (DICT) in Panabo City, operated by San Vicente Terminal and Brokerage Services of the Anflo Investment and Management Corp. (ANFLCOOR) Group of Companies.

DICT is a joint venture between ANFLOCOR’s flagship firm Tagum Agricultural Development Company, Inc. and Stanfilco, a division of Dole Philippines, Inc.

The two ports have a combined capacity of at least 850,000 twenty-foot equivalent units a year.

Panabo Trucking Services, Inc., another ANFLOCOR company, was also given approval last year by the Board of Investments for an P83.7-million expansion project for bulk cargo handling and cold storage facilities.

Meanwhile, Robinsons Land Corp., is constructing a P2.7-billion shopping mall in Tagum City, the first project to receive tax holidays under the city government’s new incentives code.

Tagum Mayor Allan L. Rellon said the entry of the Robinsons mall, targeted for opening before the end of the year, is expected to pave the way for other big companies to invest in retail and other industries in the city.

SM Prime Holdings, Inc. has acquired land in the city but has yet to indicate plans for building a branch of the SM chain of malls.

In Panabo, Davao City-based HLC Construction and Development Corp. is investing P116.2 million for a low-cost mass housing project called Oakwood Residences.

ANFLOCOR also previously announced plans to develop 50 hectares of its property in Panabo City into a mixed-use complex that would include a residential and a banana-themed park.

Davao del Norte’s economy is driven by its two main farm products, banana and coconut, with an average production of 1,550 metric tons (MT) and 236 MT, respectively. The province’s other agricultural sectors include rubber, coffee, abaca and aquaculture. -- Carmelito Q. Francisco