THE Regional Board of Investments of the Autonomous Region in Muslim Mindanao (RBOI-Armm) has approved the application of Kaltimex Rural Energy Corporation to put up an eight-megawatt energy project worth P831 million in Bongao, Tawi-Tawi.
RBOI Chairman Ishak Mastura said the application of the project was approved on Tuesday, October 25, during the joint meeting of the RBOI’s Board of Governors and its Management Committee.
Mastura said the project, once completed, would provide a round-the-clock electricity to the province through the Tawi-Tawi Electric Cooperative, Inc. (Tawelco).
Mastura said the registration of Kaltimex is very timely since up to 70 percent of the households in Armm have problems related to access to electricity.
Armm is in dire need of power especially in the island provinces of Basilan, Sulu and Tawi-Tawi where residents experience frequent rotational brownouts due to power shortage.
Officials of Kaltimex said they will also be expanding their operations in the island provinces of Basilan and Sulu. The project in Tawi-Tawi would initially generate 34 jobs.
The Kaltimex, which specializes in providing power to off-grid areas, is 99.99 percent and .01 percent owned by Filipino and Indian investors, respectively.
Mastura said the expansion plans of the Kaltimex would address the power crisis in the region.
“On the positive side, it is a huge investment for those in the power business. The region is the least penetrated market for energy-related projects in the Philippines. The Kaltimex project in Tawi-Tawi should encourage more investors to come and invest in Armm not only on energy but should open up new agri-fishery, processing and manufacturing projects as well,” Mastura said.
Armm Governor Mujiv Hataman said the Kaltimex investment in Tawi-Tawi is in response to the development challenge noting the National Government continues to promote investments in Armm in the energy sector and in livelihood-generating industries.
“The Kaltimex investment offering stable power supply is a milestone in the Duterte administration since this could support a growing economy towards dynamic trade, tourism, investments, development of infrastructures and increase household incomes,” Hataman said.
President Duterte learned of the perennial power problem in the island provinces of Armm when he visited the region particularly Lamitan City, Basilan earlier this month.
