Posted on February 11, 2019
COTABATO CITY: The newly ratified Bangsamoro Organic Law (BOL) is up for a good start after the Regional Board of Investments (RBOI) approved a P1.4-billion sand and gravel project recently.
RBOI Chairman Ishak Mastura on Friday told The Manila Times it was the first project approved after the ratification of the BOL in January and is perhaps the biggest this year.
The BOL provides the legal framework to replace the Autonomous Region in Muslim Mindanao (ARMM) with a new political entity, the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
Project proponent JMI Sand & Gravel and Truck Services Corp., based in Sultan Kudarat, Maguindanao, was a DENR accredited supplier of sand and gravel to Southwest Mindanao, including Basilan, Sulu and Tawi-Tawi, Mastura said.
He said JMI was engaged in a joint venture agreement with CCIL Mining and Mineral Resources Corp. in dredging and realigning of the Simuay River and shoreline.
CCIL is a Hong kong-registered company with a proven track record in mineral exploration, mining operations, shipment and international transactions.
Mastura pointed out that approval of the project would allow JMI to enjoy incentives from the government such as income tax holidays, duty free importation on capital equipment and other applicable incentives.
“We are grateful that despite political uncertainties brought about by the transition from ARMM to BOL, investors still want to have first mover advantage even before the transitional government is set-up,” he said.
He further explained that the Simuay River dredging project was a great solution to the problem of recurring flash floods as mitigating measure to control and reduce flooding of the river’s floodplain.
Perennial flash floods are experienced in Simuay River and spread to nearby villages of Sultan Kudarat, Sultan Mastura and other towns in Maguindanao affecting hundreds of families, mostly farming communities, destroying millions worth of properties, and resulting in loss of livelihoods primarily livestock and agriculture.
Simuay River is a major tributary that connects streams from the ranges of North Cotabato and Maguindanao.
Sultan Kudarat Mayor Datu Shameem Mastura expressed support for the project, saying it would help the town and the neighboring municipalities address flooding and riverbank erosion affecting Simuay River through dredging and silting without cost to the government.
Outgoing ARMM Gov. Mujiv Hataman said this significant project was a positive development to protect the constituents, as well as infrastructures making communities safe and optimistic, generate jobs and revenues and push for economic growth.
“This is a positive way to jumpstart the BARMM as we go on transition from ARMM”, Hataman said.
Source: The Manila Times
