BOI grants tax perks to 3 projects

MANILA, Philippines - The Board of Investments (BOI) has given fiscal and non fiscal incentives to three projects with a combined investment of almost P1 billion.

The Board has recently approved the application of San Miguel Corp.’s SMC Shipping and Lighterage Corp. (SMCSLC) as a domestic shipping operator for its brand new 3,999 GT (Gross Ton) capacity oil tanker vessel named SL Maple.

SMCSLC will invest P613.8 million in this project which involves a five-year lease with an option to purchase/own the said vessel. It was built in Japan on 2008 and owned by El Magnifico Shipping Corp. of Panama.

The vessel will be used to haul petroleum products for Petron Corp. and its docking site will be in Santo Tomas, La Union. The proposed activity is the firm’s seventh project applied for BOI registration and has Marina ‘s endorsement. Start of commercial operations will be in September 2010. 

Likewise, Aboitiz-owned animal feeds facility Pilmico Foods Corp. (PFC) was given incentives as an expanding producer of animal feeds in their milling facility at Kiwalan Cove, Iligan City .

The P230-million project involves the establishment of a new feed mill line with a production capacity of 20 tons per hour or an annual capacity of 115,000 metric tons (MT). It is slated to start commercial operation in September 2010 employing an additional 89 personnel.

It is an expansion of its existing feed mill which started operations in March 2007 and is operating close to its full capacity just to meet its growing market demand for animal feeds. The new complete feed mill line is expected to double the capacity of the existing mill. 

PFC is wholly owned by Aboitiz Equity Ventures, the holding company of the Cebu-based Aboitiz family.

Meanwhile, Banner Plasticard Inc. was approved as a new export producer of perforated cards with an annual capacity of 950 million pieces in Manggahan Light Industrial Park, Amang Rodriguez Ave., Manggahan, Pasig City.