BOI grants tax perks to 5 projects worth P500 million

MANILA, Philippines - Five projects worth more than P500 million received tax incentives from the Board of Investments (BOI).

In a statement, the BOI released the list of the five new projects that received tax breaks including a power project in Mindoro.

BOI has approved the application of Ormin Power Inc. for its Modular Bunker Fuel-Fired Power Plant in Sta. Isabel, Calapan City, Oriental Mindoro. The area is one of the 75 missionary electrification areas being served by National Power Corp. (Napocor).

The P456.86 million project involves the construction and operation of an eight megawatt (MW) plant designed as a base load plant to boost the electricity requirements in Oriental Mindoro.

The plant will employ special types of bunker fuel oil like Heavy Fuel Oil (HFO) during the entire operation. It will be equipped with four modular power generating units, of which three sets are main generating units and one set HFO Treatment Unit (HTU) including auxiliary equipment. The total actual capacity of the plant is 6,400 kW.

The BOI also approved the application of Rombe Philippines Inc. for its process meat project with an annual capacity of 1,326 metric tons (MT). At the same time, Peter Paul Coconut Water Corp. (PPCWC) was given the nod for its coconut juice (ready to drink) production of 21,250,000 liters per annum. Meanwhile, Martsons Food Corp., gained approval for its fruit processing project with a yearly capacity of 1,037 MT.

The P55.5 million Rombe project will involve the construction and operation of meat processing plant at their industrial compound in Barangay Dampol 1st, Pulilan, Bulacan.

Lastly, BOI approved the application of Meyochi & Co. Inc., as an existing garments export producer with an annual capacity of 943,250 pieces of garments.

The project which is situated in San Miguel, Pasig City, involves the production of garments and apparel such as infant and children’s wear, women’s and men’s apparel such as knitted t-shirts, woven shirts, skirts, jackets, jog/wind suits, dresses, blouses, pants and shorts.