BARMM Approves P515-M Modern Corn Production Project
Sep 27, 2019
September 27, 2019. Cotabato City. A Php515 million modern corn plantation is set to be established at Brgy. Kabingi, Datu Saudi Ampatuan (DSA), Maguindanao. This is after the Regional Board of Investments (RBOI), Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) approved the application of Maguindanao Corn Development (MCD) –DSA I Corporation, an agri-based company, to register with RBOI.
This is for MCD to avail of fiscal and non-fiscal incentives from the government under Executive Order 226, otherwise known as Omnibus Investment Code of 1987, as amended.
Eshan Karl Mabang, executive director of RBOI said that the MCD-DSA I Corp, a 100 percent Filipino-owned company will be the first to modernize corn production in the BARMM by using total farming solutions through efficient management and the use of precision planting technology.
“Aside from the farmers earning from the corn produce, they will also benefit from the transfer of technologies and technical know-how particularly the precision farming protocol. Most of MCD’s farming methods will be mechanized and technologically advanced”, Mabang added.
The initial phase of the corn production project will be at 2,000 hectares per module which is estimated to produce around 32,000 metric tons of yellow corn with 2 cropping per annum. Its initial operation is expected to generate 280 jobs and will increase as the project expands to 20,000 hectares in five years.
LAMSAN Inc., a corn wet milling company based in Sultan Kudrat, Maguindanao will buy 100 percent of MCD’s corn produce on a pre-agreed price. This is to address LAMSAN’s increasing demand for corn.
Apart from additional economic activities that will be created from said corn plantation like the establishment of micro and small business in the area, MCD with their operational principle of “SHARED GROWTH”, will also implement Corporate Social Responsibility (CSR) activities such as reforestation in support to environmental programs. Also, assisting farmers not covered by the mechanized farming scheme by providing them farm inputs like seeds, fertilizers, chemicals at bulk acquisition price, trainings and corn buy-back arrangement at favorable price.
Sukarno Baraguir, one of the Governors of RBOI said that the presence of the project in a less developed area particularly in DSA, will be a good opportunity to expose the host communities to modern and sustainable farming. “Aside from stimulating growth, this will also empower our farmers”, Baraguir added. (SOURCE: RBOI/Shamera A. Abobakar)