BusinessWeek Mindanao (December 5, 2013)

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BusinessWeek MINDANAO

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Volume IV, No. 26

Market Indicators

As of 5:45 pm Dec. 4, 2013 (Wednesday)

FOREX

PHISIX

US$1 = P43.87

6,105.23 points

15 cents

X

74.27 points

X

Briefly Palay procurement MARAWI City -- The National Food Authority (NFA) here is intensifying its local palay procurement program to help the government attain its goal of self-sufficiency when it comes to rice. NFA Information Officer Khayamera Dialem said they are now implementing several strategies to encourage more farmers to sell their produce to the NFA. She said NFA Provincial Manager Sittienaidah Sampaco is closely monitoring the palay production in the province and has deployed several mobile procurement teams to go to the places of farmers. She said they also simplified the requirements for the issuance of individual farmers passbook adding that the farmers passbook and taking of its ID picture is now free of charge.

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Thursday - December 5, 2013

P15.00

Shell infuses P6B to upgrade Oro facility By GRACE BEBER, Reporter

The new investment is part of Pilipinas Shell’s P12 billion facility upgrade which would also include its refinery plant in Batangas. Shell Companies country chairman Edgar O. Chua, in his acceptance speech as awardee of the “Management Man of the Year 2013” conferred by the Management

Association of the Philippines in Makati City on Tuesday, said the company will develop its Cagayan de Oro refinery into a Northern Mindanao Import Facility that will spur development in Mindanao. “We just broke ground on a P6-billion import terminal in Mindanao and we are waiting for the approval of

P6 billion to upgrade our refinery,” Chua said. “The country is growing and I think we need to spur the economy in Mindanao [which] I think is actually a good place to put an investment in,” he said,. He said the Mindanao facility will be built for shell/PAGE 11

MARSH LAND. A boatman paddles through water hyacinths on the Agusan Marsh, in Sitio Panlabuhan, Loreto town in Agusan del Sur in this file photo taken in February this year. Behind him are two floating houses that are a common sight in this wetland where hunters caught “Lolong”, the world’s biggest crocodile in captivity that died at the eco park in Bunawan town. mindanews photo by erwin mascarinas

THE local government of Balaoi, Lanao del Norte has given the state-owned Na t i o n a l Po w e r C o r p (Napocor) the green light to proceed with a flood control project that will increase Mindanao’s electricity from hydro sources. In a press statement, Napocor said it turned over P16.7 million worth of checks for the residents affected by the 2004 and 2008 flooding in the plains of Baloi. The financial assistance is a condition for the issuance of the environmental compliance certificate (ECC) and local government endorsement

for the Baloi flood control project along the Agus River. The project is estimated to cost P1.9 billion and is expected to maximize the generating capacity of the Agus 2 hydroelectric power plant. Agus 2 is among the six cascading hydroelectric plants of the 727-MW Agus-Pulangi power complex operated and maintained by Napocor. The facility generates more than half of Mindanao’s electricity supply. Gladys Cruz-Sta. Rita, Napocor president, said the project, once implemented, napocor/PAGE 11

P

ILIPINAS Shell Petroleum Corp. is infusing a fresh P6 billion for the rehabilitation and upgrading of its oil refinery located at the Cagayan de Oro City port as part of the company’s continued expansion binge amid the country’s growing economy.

Relief operations MORE cities and municipalities are being reached by the relief operations of the Department of Social Welfare and Development (DSWD) by ensuring proper coordination with the different Local Government Units (LGUs) affected by Super Typhoon Yolanda. DSWD is working double time in sending food packs and non-food relief goods (tents, mattresses, mosquito nets, blankets, towels and hygiene kits) to different municipalities in aid of the internally displaced families either in evacuation centers or the different barangays. Relief goods are either delivered by DSWD workers and turned over to proper authorities at the LGU level or are requested directly and obtained by the LGU through the different operation hubs all over Region 8.

12:30 PM - 1:00 PM

Napocor gets Lanao Norte LGU’s approval to hike hydropower capacity

NGCP starts reforestation South Cotabato to review open-pit projects in Bukidnon, MisOr mining ban in environment code By JASPER MARIE OBLINA-RUCAT Contributor

THE National Grid Corporation of the Philippines (NGCP) through its Reforestation Launching Ceremony on Dec. 3 started its reforestation project by turning over check worth P7.8M to its stakeholders. Its stakeholders include the local government of Impasug-ong in Bukidnon w it h sup e r v is i on f rom Department of Environment and Natural ResourcesC it y E nv i ron me nt and Natural Resources Office

(DENR-CENRO) Manolo Fortich, Naawan in Misamis Oriental with DENR-CENRO Initao, the academe Central M i n d a n a o Un i v e r s i t y (CMU) with DENR-CENRO Pangantuc an and nongovernment organization Pe o p l e’s O r g a n i z a t i o n MISFAMILDA in Miaray, Dangcagan with DENRCENRO Don Carlos. According to NGCP Head of Environmental Management Division ngcp/PAGE 11

By MINDANEWS

GENERAL Santos City – The Sangguniang Panlalawigan of South Cotabato will review next year the province’s environment code in a bid to “enhance and amend” some of its provisions, including the controversial ban on open-pit mining. South Cotabato Vice Gov. Cecile Diel said Tuesday they have started initial discussions and consultations regarding the code’s

Mindanao Daily NEWS

planned review, which will mainly focus on “answering some legal questions” that hounded it since it was enacted three years ago. She was referring to Section 22, Paragraph b of Ordinance No. 4 or the Provincial Environment Code that sets the ban on the use of the open-pit mining method in any part of the province’s 10 towns and lone city. mining/PAGE 11

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