Billion-peso palm oil project in the works

ROXAS CITY — A billion-peso palm oil production project is in the pipeline, Capiz Governor Esteban Contreras said.

Once the project, located in Jamindan, will be completed, huge business and real estate tax revenues are seen, he said.

The project was said to be the first in Western Visayas.

The governor said that 1,500 to 3,000 hectares are being targeted for the site, adding that the project is seen to employ more than 100 people.

Contreras said that the proposed venture would diversify Capiz’s agri-aqua business portfolio.

The project can also help lessen the practice of “kaingin,” which caused deforestation, and could mitigate the flooding.

“Ang mga bukid naton natamnan sang corn. Kon natamnan, nine-by-nine meters, 25 years gatinir ang palm oil, so wala soil erosion kag pwede pa sila ka intercrop,” Contreras said.

He said, “with the palm oil scene being crowded in Mindanao and outside the country, they chose Visayas.”

Capiz was chosen as agriculture was one of its primary industries, he added.

Moreover, he said there are many willing investors. “Mapili kami dayon sa kon sino may experience,” he added.

Negotiations have started already, he said.

“By next year, a memorandum of agreement might be signed,” Contreras said.

“Dako ini bga bulig sa mga farmers kay may alternative naman sila,” Contreras added.*