Hanjin subsidiary bids to plant rice, corn in Misamis Oriental

A subsidiary of Korean shipbuilder Hanjin Heavy Industry and Construction Co. Ltd. (HHIC) has asked the government for the go-signal regarding its planned grains project in Misamis Oriental.

In a proposal submitted to the National Food Authority (NFA), HHIC- Mindanao, Inc. is asking for permission for the construction of a multi-industry cluster (MIC) in Claveria town in the province for rice and corn cultivation.

Under Section 3 of Presidential Decree No.194, the NFA is empowered to authorize an alien, association, partnership or corporation wholly or partly owned by foreigners to engage in the local rice and corn industries.

According to HHIC-Mindanao, Inc., the grains project is intended to provide for domestic consumption and export. It would comprise 3,000 hectares with total cost of around P10.942 billion over a 30-year period.

If the government approves the proposal, the company will start the project's initial phase, which has an estimated cost of P55.8 million, this year

Its parent company Hanjin said HHIC-Mindanao, Inc. has established a relationship with Korean National Institute of Crop Science for an "assured and guaranteed technology transfer arrangement.”

Upon the start of operations, HHIC-Mindanao intends to tie up with established  crop research centers in the Philippines and Korea for the introduction of  advanced cultivation practices with guaranteed high yield and environmental protection.
 
In particular, this comprises agriculture engineering solutions for the prevention of soil erosion and improvement of water quality.
 
NFA Administrator Orlan Calayag has sought the opinion of the Department of Agriculture regarding the company's request, particularly on the possible effects of the company's proposed project on the local grains industry. — KBK, GMA News