CAGAYAN DE ORO CITY – Billions worth of investments was poured into Misamis Oriental’s economic zone by corporations and businesses further bolstering Northern Mindanao as the prime investment hub of Mindanao.
Phividec Industrial Authority (PIA) Administrator Franklin Quijano said Wednesday that several companies have either started construction or are in the process of finalizing their accreditation with the PIA management as locators.
Quijano estimated the new investments at PHP4 billion, occupying several hectares of land inside the ecozone.
PIA manages the 3,000-hectare Phividec Industrial Estate in the province, covering 13 barangays located in the towns of Tagoloan and Villanueva. So far, dozens of locators have established their businesses inside this economic zone.
One company, Gardenia Bakeries Philippines Inc., has already started its operation within the PIA complex in Barangay Santa Cruz, Tagoloan early this month.
The Gardenia plant in Tagoloan is the firm’s first facility in Mindanao. Using advanced, fully-automated technology, the bakery can produce up to 130,000 loaves and buns a day which will then be distributed throughout Mindanao.
Gardenia Bakeries president Simplecio Umali said the decision to put up the facility at Phividec was a strategic move as it can act as a supply depot capable of distributing products in case of disasters in some parts of the country.
“In case there’s a calamity, a major earthquake, we can still continue to supply food to other areas. We can immediately ship our goods from Tagoloan to the Visayas, even to Luzon,” he said.
Umali said they came up with the idea of bringing in their products to high-risk zones when they gave out free loaves of bread to the displaced residents of Marawi City at the height of the 2017 siege.
With the bread producer already in operation, Quijano said other companies will soon follow suit once the construction of their facilities will be completed.
He cited San Miguel Corporation, which is setting up five businesses at Phividec, producing beer, food, feeds, packing products, and grains.
Other companies that are interested to put up shop at the economic zone in the near future include a tennis ball maker, a steel manufacturing, and a liquid natural gas processing firm. (With reports from PNA)