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Iron ore manufacturing sector top investor in Mindanao
Davao City (29 June 2005) -- Iron ore manufacturing sector leads in the investments in Mindanao for the first four months of 2005 with P520 million infused capital by a foreign owned company.

The Mindanao Economic and Development Council reported that from January to April 2005 investments performance, the sector got the biggest share of approved projects this year.

About 49 percent worth of investments was infused by the Japanese-owned Philippine Sinter Corporation at Phividec Industrial Authority (PIA) in Valenzuela, Misamis Oriental.

Investments in processed food and beverages sector remained strong as it grew by 20 percent with P256 million of investments from January to April this year compared to the same period last year of P213 million.

The livestock, poultry and feeds sector on the other hand has P203 million of current investments from last year's P89 million.

The refrigeration services sector accounted five percent while motor vehicle parts accounted three percent share from the total investments this year.

Medco also reported on the other investments that include the P200 million poultry farms venture of Maharlika Agro-Marine Ventures Corporation located in Bukidnon and Davao City.

It also reported the P125 million Philippine-Japan Active Carbon Corporation's expansion project in Davao City, the P 100 million semi-refined carrageenan project of Marisons Food Corporation in Davao City and the P57 million cold storage plant of San Andres Fishing Industries, Inc. in Tambler, General Santos City. (PIA/pdbanzon)

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