ARMM welcomes new investments on energy

COTABATO CITY - The Regional Board of Investments of the Autonomous Region in Muslim Mindanao (RBOI-ARMM) in a Joint Meeting of the Board of Governors’ and Management Committee (ManCom) approved yesterday the application of KALTIMEX Rural Energy Corporation (KREC) to register its energy project with RBOI to avail of fiscal and non-fiscal incentives being provided by the government. Kaltimex, a 99.99% Filipino and .01% Indian company will be setting up an 8MW capacity diesel power plant in Bongao, Tawi-Tawi worth P831 million generating 34 jobs. The company promises to provide a 24/7 round the clock power supply through the Tawi-Tawi Electric Cooperative, Inc. (TAWELCO) to service the development requirements of the Province of Tawi-Tawi. Kaltimex, specializing on providing power to off-grid areas will also be expanding their operations in Basilan and Sulu. Lawyer Ishak V. Mastura, Chairman and Managing Head of RBOI said that the registration of Kaltimex is very timely since at present about 70% of households in the ARMM has scarce access to electricity. The region is in dire need of power especially in the island provinces of Basilan, Sulu and Tawi-Tawi (BASULTA) where residents miserably experience daily frequent rotational brownouts due to power shortage. This project could help address the power crisis in the region. On the positive side, power is a huge investment opportunity for those in the power business. The region is the least penetrated market for energy related projects in the Philippines. The Kaltimex project in Tawi-Tawi could encourage more investors to come and invest in ARMM not only on energy but could open-up to agri-fishery, processing and manufacturing projects as well, Mastura said. When asked about the power plant investment of Kaltimex, ARMM Regional Governor, Mujiv Hataman said that it was only this month that President Duterte visited the region in particular Lamitan, Basilan wherein he heard about the perennial problem of the ARMM island provinces on the lack or shortage of electricity. For the Regional Governor, the Kaltimex investment in Tawi-Tawi is a response to this development challenge and he hopes that the national government will continuously promote investments in ARMM in the energy sector and in livelihood generating industries. The Kaltimex investment to offer a stable power supply is a milestone in the Duterte Administration since this could support a growing economy towards a dynamic trade, tourism, investments, development of infrastructures and increase household incomes , Hataman further said. This 2016, RBOI has registered a total of P2.1 billion worth of investment projects.