P8 billion banana plantation to rise at former MILF camp

P8 billion banana plantation to rise at former MILF camp



The Bangsamoro Autonomous Region in Muslim Mindanao are now being groomed for the benefit of all in the area.
Foreign investors are set to develop an P8-billion banana plantation.

Agriculture Secretary Emmanuel Piñol said a Bangsamoro group representing owners of 7,000 hectares of land at Camp Abubakar in Barira, Maguindanao (Photo credit to PhilStar)


Department of Agriculture Secretary Emmanuel Piñolsaid the Bangsamoro group represents 7,000 hectares of land at Camp Abubakar in Barira, Maguindanao has inked an agreement with Russian and Swiss investors.
French-Russian businessman Robert Gaspar represented TechIron Resources Inc. and Solway Group represents the investors.
“Both TechIron Resources and Swiss-owned Solway Group have interests in mining and minerals but are now venturing into agriculture and aquaculture in the Philippines targeting the Russian market,” Piñol said.
The banana plantation project is expected to be launched on Feb. 16 in Camp Abubakar, with an initial 1,000 hectares for development.
The agreement allows the investors to conduct surveys, soil testing and aerial mapping of the area.

Secretary Piñol said the DA, for its part will also send a team of soil experts, solar irrigation engineers and digital technologists to educate and helping the farmers in the area.
The P8 billion project is expected to provide employment to at least 10,000 workers.
The foreign investment was because President Duterte’s independent foreign policy when he visited Moscow last year May 2017, which resulted in the opening of the Russian market to Philippine agriculture and fisheries products.


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Report from PhilStar

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