2014.4.14
DAVAO CITY, April 14 (PNA) — With the high demand for coco water in the international market,
Franklin Baker is expanding the operation of its plant in Sta. Cruz, Davao del Sur to producing a new product out of coconut.
Sta. Cruz Mayor Joel Ray Lopez disclosed on Thursday at the Davao Business Forum organized by DermPath, SM City Davao and San Miguel PureFoods that Franklin Baker is expanding its operation in their town for production of coco water.
Mayor Lopez said the company is finalizing negotiations with the Ayala’s for the acquisition of the property that was earlier leased to CJ Toyota Tsusho Philippines, Inc.
He said Franklin Baker is negotiating for the property that was earlier occupied by the CJ Toyota Tsusho Philippines, Inc. which company produces coconut sugar D-xylose out of coconut shell.
The Korean company however closed down due to technology problem that caused them tremendous losses.
Department of Trade and Industry (DTI) Davao del Sur provincial head Eulogio Orevillo said the negotiation is ongoing and the parties are already finalizing details.
“We see positive results with the negotiation undertaken by two parties,” he said.
Provincial Agri-Industrial Center (PAIC) administrator of Sta. Cruz town Camila Infuesto said Franklin Banwas first agri-industrial processing plant that located in their municipality.
The Sta. Cruz processing plant produces desiccated coconut which produce is exported to international market like the US.
She said new businesses or expansion of existing business is what our locality needs because this would also mean more jobs for the locals.
She said as indicated in their Investment Code, companies that locate in their municipality must employ residents of the area.
The entry of more businesses in Sta. Cruz gave their municipality a tremendous increase of the local revenue, she said.
She said from the P75.1 million income in 2001 it grew by 426 percent in 2013 as it generated an income of P196.765 million.
As shown in the graph, the town’s income from 2001 to 2007 recorded a very minimal increase but went up in 2008 with the entry of more businesses.
She said they continue to invite investors even as she said that they make sure that they maintain their reputation as a business friendly town. (PNA)
CTB/DIGNA D. BANZON/LDP