by Bernie Magkilat, The Manila Bulletin
Del Monte Arabia is investing $250 million to develop at least 6,000 hectares into pineapple plantation in Palawan for the exports market
Palawan Governor Jose Ch. Alvarez revealed at a press conference for the launch of Palawan’s investment forum on July 28 and tourism and trade fair on August 7-11 this year that a memorandum of understanding is set for signing during the investment forum in Manila. Expected to sign the agreement are Del Monte Arab President Hani Al-Naffy and Chairman Mohammad Abu-Ghazaleh. Del Monte Arabia’s country manager is Hector Rivera.
According to Alvarez, the pineapple plantation will traverse 3 towns Brook’s Point, Bataraza and Rizal in the southernmost part of Palawan.
Alvarez said this Del Monte investor is separate from the Del Monte of Cagayan de Oro of the Campos group. The Cagayan de Oro Del Monte produces pineapple and bananas for the domestic market.
The Palawan investor is of the Jordanian group. The group is planning to lease at least 6,000 hectares from landowners from the three towns and enter into contract growing with local residents. The project is expected to create 8,000 jobs over a three year period.
The group will be exporting fresh pineapples using the Buliloyan pier, which development cost could reach P250 million. The pier project has already attracted private sector developers.
Source: Manila Bulletin