Filinvest power unit seeks BOI perks

MANILA, Philippines - Filinvest Development Corp. (FDC) is seeking tax perks for a new power plant in Camarines Sur and the expansion of a mass housing project in Batangas.

“Notice is hereby given that FDC Camarines Power Corp. is applying for registration with the Board of Investments (BOI) as new operator of a 40 MW (megawatt) biomass or coal-fired power plant on a non-pioneer status with project site located at Minalabac, Camarines Sur,” a published notice of the BOI read.

FDC Camarines Power Corp. is under FDC Utilities, Inc., which is a subsidiary of FDC.

FDC Camarines Power can enjoy incentives such as income tax holidays for four years, should its application for registration with the BOI be approved.

FDC Utilities said earlier that it is planning to build power plants running on clean coal and biomass with a total capacity of 200 MW this year.

Apart from Camarines Sur, other locations eyed for the power plants are Cebu, Davao, and Negros.

In a separate published notice, the BOI said Filinvest Land, Inc. (FLI), another subsidiary of the Filinvest Group, is also seeking incentives for a mass housing project.

“Notice is hereby given that FLI applying for registration with the BOI as an expanding developer of low-cost mass housing project (Amare Homes) with a capacity of 96 low-cost mass housing units on a non-pioneer status, with project site located at Blue Palm Estate, Brgy. Darasa, Tanauan City, Batangas,” the published notice read.

Amare Homes features Italian-themed townhouses.

By being registered with the BOI on a non-pioneer status for the expansion of the project, FLI will be entitled to incentives such as income tax holidays for three years.

FLI initially focused on the development and sale of residential lots and housing units to lower and middle-income markets in the country.

In recent years though, it has expanded its residential business to cater to other income segments through entrepreneurial communities, medium-rise buildings, townships and themed residential projects.