Bicol Mail


BOI lists viable investments in Catanduanes

April 11, 2013 by bicolmail in Business with 0 Comments

Bicol’s island province of Catanduanes has plenty of viable projects that can attract investors under the government’s Investment Priorities Plan, according to the Board of Investments (BOI).

These projects include mineral resources development focused on the large deposits of limestone in the province that could be used to produce cement; renewable energy and coal-bed methane power plants; agri-fisheries; ship building; and tourism, Raul Angeles, the executive director of the BOI’s Investments Servicing Group, said in a statement.

In its coal-bed methane power plant investment potentials, Angeles said the province sits on a vast high-grade coal field that can be used to produce 50 megawatts (MW) of electricity, without damaging the environment, through the use of clean-coal technology.

A coal-fired thermal power plant will be able to produce 100 MW, enough to bring down the cost of electricity on the island to at least P7.50 per kilowatt-hour, compared to the existing P11, he said.

In March last year, the Department of Energy (DOE) awarded a new Catanduanes coal mining contract to the Australian-owned Altura Mining Limited (ASX:AJM) through its local subsidiary, Altura Mining Philippines Inc. (AMPI) under the Philippine Energy Contracting Round 4 (PECR4).

In the wake of the awarding of this new mining contract, the provincial government, joined by the local hierarchy of the Catholic Church, has renewed its opposition to mining which, according to a recent study, would compromise the 60,000 hectares of forests on the island, the largest green patch in Bicol.

The study revealed that the five-year project timeline on the 7,000 hectares of AMPI in extracting 1.2 million tons of coal would provide a share to the province projected at around P76 million with at least 500 local mining laborers to be hired.

However, it said, the about 1,400-hectare portion of the mining site devoted to abaca and could churn out at least P26 million per year worth of abaca products– benefitting some 9,000 farmers, would be lost to the mining.

This means that in five years, an amount of P132 million in abaca production will be lost by the province in exchange for the P76-million share from the mining operations.

Catanduanes is an abaca production leader with its over 20,000 MT of fiber yield yearly, representing about 35 percent of the country’s total output.

In renewable energy, Angeles noted that for the island province to attract investments, it has to offer adequate and affordable power.

While Sunwest Water and Electricity Co. is now operating two hydroelectric power plants, he underscored that hydro power cannot serve as the base load of the island grid. In agri-fisheries, according to Angeles, the province has a wide deep-sea fishing prospect by taking advantage of the so-called “Tuna Highway” in the Pacific Ocean that passes close to the island.

Meanwhile, in the area of ship-building that Joseph Cua, the provincial governor, is eyeing to revive in Panganiban town, the province could service small boats from Japan and other countries where the labor cost is high.

Panganiban is a fifth class municipality situated on the northern part of Catanduanes with its eastern part facing the Pacific Ocean.

In tourism, Angeles said, the island’s huge potential as a tourist destination is a good investment attraction although a lot of improvement still needs to be done on its transport facilities, accommodations and historical sites.

A recent report published by the island-based Catanduanes Tribune, a local weekly, quoted Angeles, a native of the province, as saying that when maximized, these investment potentials can make Catanduanes a “Little Taiwan” out of the many manufacturing activities that may take place in its localities.

Angeles met with local officials and businessmen during the recent investment promotion seminar sponsored by the Department of Trade and Industry (DTI) at the Capitol in Virac, the provincial capital, the Tribune said.

The BOI is promoting its proposed General Policies and Specific Guidelines to govern the 2013 Investment Priorities Plan (IPP), it noted.

Angeles, however, clarified that as far as the BOI is concerned, it will not promote commercial mining in Catanduanes if the local government units do not want it.

“We will not invite investors if they will only be hounded by protests,” the Tribune quoted him as saying in the seminar.

The DTI, under which the BOI operates, has to review the mining laws as what the government is getting from the mining industry is too small,” he pointed out to the Tribune, adding that the two percent excise tax on extracted minerals has to be divided among the national, provincial, municipal and barangay governments.

“There should be more benefits for the people,” the BOI director stated, as long as the mining companies comply with mitigating requirements under existing environmental and mining laws, rules and regulations.               PNA

Leave a reply

Special Report

PAG-ASA Weather Center Latest Tweet
Comments from the Readers
  • bottes cuir homme moto: bottes cuir homme moto... Exciting insights, you should take into account doing a podcast on business and marketing and advertising.... View Post
  • Louis Vuitton Outlet Online: Louis Vuitton Outlet Online... Cannot believe the naive comments. You go and visit these places and you will see exactly what having this sort of communication means to the community. Alerts for all sorts of disasters... View Post
  • Theanna: I feel sad for young Kisha and her pretty picture, spoiled by a tirade of "the political monstrosity obtaining (sic) in our country..." And it's you, (writer with no name) not her, who "virtually hurled a challenge..." I'm not a professional photographer but I know a lot about it. If this was supposed to be a sunset, where is the sun? If you called it "cogon grass with flowers" that would have been more appropriate. If the picture was enhanced, it was overdone and unrealistic. View Post
  • Theanna: Thanks Judge for that timely and alarming info on the country's postal service. I thought that by now, things are much better than when I was there. May I add a few cents worth of fond remembrance of the late fabulous Fr. James Reuter, SJ? I never met him but my brothers and male relatives were all Ateneans and Fr.Reuter's name was often mentioned at our house. When I heard that Roxanne of Cyranno de Bergerac was being played by one of the handsomest guys in school, I had to see it. Also, my brother told us about the time our father and he met him on Ateneo Ave. After exchanging greetings, he asked father, " Is he your eldest son?" My father replied, "Oh no, my eldest son is a daughter." The whole family burst into tearful laughter. View Post
  • Theanna: Glad that you're back, Mr. Kenkoy. Missed you and my Bikol language lessons. My native dialect sounds foreign to me now. Kenkoy was my favorite pinoy komiks but I was caught reading American Archie when I was supposed to be following a book discussion in class. View Post
  • antonio pena: What a blissfull story, Thanks be to God. Happy New Year Sir, May our Lord God Jesus Christ be with us all always. Only God knows our destiny. View Post
  • Theanna: What happened to the news bits under this picture? View Post
  • Theanna: Thanks for the above concerns. I thought I was the only one who sensed something odd, since I read the news printed under the Business section on Nov.15. I posted a comment, after much deliberation, on Nov. 17 re the offensive word in the headline. My simple arithmetic doesn't add up to the expected results of this huge 3billion peso project. I feel like the child in Hans Christian Andersen's story of "The Emperor's New Clothes". I can't figure out how the people there can generate 100 tons of garbage a day. View Post
  • alejandro: ano an sanglit? View Post
  • alejandro: tukdoan tang magnoronegosyo sagkod magtipon an mga pinapadarahan kan mga OFW. bakong dalagan tulos sa mcdonald. pagpuli kan OFW, otot. sibot na naman magbuwelta ta mayo na naman nin kuwarta. View Post
  • Pastor Dan: Can we rely on the government to be able to address the perennial problem of hunger and malnutrition among marginalized children ? Your guess is as good as mine... I just thought we could be more introspective with the developmental role of privately funded NGOs. The NGOs can play a crucial role in addressing this issue... more so if the present dispensation manifest some tangible support for them... View Post
  • Engr. Efren Rempola: Tama ka dyan, Manoy Joel, bako man si Fortuno o si Aga Muhlach an mabugtak saimo sa Kapitolyo tangaring ibalik mo sa mga taga-Camarines Sur an harong na ini. Kun talagang habo saimo ni Aga, sa cuarto distrito, yaon baga si dating Cong. Wimpy Fuentebella asin an mga Alcalde na supotado ki Spkr Noli Fuentebella. Dae naman yan ma-iriba ki Gurang na Villafuerte ta aram naman ninda na drama man sana an labanan kan mag-amang Luis asin L-Ray. Sa quinto distrito (Rinconada), Manoy Joel, yaon baga si dating Cong Nancing Alfelor. Aram man sana kan gabos na Rinconada na iyo ini an tunay na LP bakong si Fortuno. Dae naman pati yan ma-iriba ki Gurang na Villafuerte nin huli ta bistado na an iwal-mag-ama na sarong pakitang-tao lang tangaring sinda-sinda na sana an maglaban sa eleccion, eh, ngonyan yaon ka dyan Manoy, dikit na sacripisyo na lang, hahalion na an mag-ama asin ma-ibabalik na an Kapitolyo sa mga tao. View Post
  • Winston Cigarettes Website: Very nice article, just what I needed. View Post
  • traqy: Wow! This will bring longterm economic opportunity to Naga City. Thus, the city will be more self-reliant and self-sustainable as power supply will be rarely disrupt even in times of natural disaster. More BPOs might operate in the city as the confidence on power supply is high. Good work Mayor John Bongat! View Post
Published every Thursday
Goldprint Bldg., Concepcion Grande,
4400 Naga City, Philippines
E-mail: /
Fax/Tel. (054) 811-1821

Entered as Second Class Mail Matter at the Naga City Post Office City of Naga, Philippines

Adjudged “Best-Edited Provincial Newspaper” * Member, Publisher Assn. of the Phils., Inc.
As of Today, this site has been visited asp hit counter times.
News Flash
  • Php571-M daños ni ‘Karen’ sa agricultura
  • SA SMOKING BAN ORDINANCE:  Pinunan sa Naga kan 1995 iimplementar na sa ‘Pinas
  • LGU vs pagpalaba kan runway kan Naga Airport
  • NFA CS abunda sa food security
  • SA MGA TINAMPO SA CUIUDAD NIN NAGA:  SP nagbilog TWG na mapadale sa convercion sa national road
  • Squatter lang? P15M multi-purpose halls in CamNorte have no land titles
  • KILLED BY cops