Northern Mindanao infra investments rise to P9.81B in 2Q, up by 138 percent

By Rutchie C. Aguhob

Friday 9th of November 2012

OROQUIETA CITY, Misamis Occidental, Nov 9 (PIA) – Northern Mindanao’s total regional investments (TRI) in infrastructure rose by 138 percent in the second quarter of 2012 as most provinces in the region increased spending on construction of school buildings and expansion of business facilities.

Infrastructure investments during the quarter increased to P9.81 billion from P4.12 billion during the same period last year, Linda O. Boňiao, regional director of the Department of Trade and Industry (DTI) in Region 10, said.

She said Misamis Oriental had the biggest increase in infrastructure spending, with 71.79%, followed by Bukidnon, 23.74%, Misamis Occidental, 2.70%, Lanao del Norte, 1.56 % and Camiguin, 0.21 %.

Infrastructure investments in Misamis Oriental went up from P2.13 billion to P7.05 billion, a 230.05 percent increase. The amounts were mostly used for expansion and procurement of additional equipment for a beverage production plant, particularly, Coca Cola, in Villanueva town.

Investments were also made in construction and expansion of business and tourism-related facilities like the Centrio Mall of Ayala, Paseo del Rio Hotel and development of new real estate lessors, in Cagayan de Oro City, the seat of regional government in Region 10.

Infrastructure investments in Bukidnon also increased from P1.37 billion to P2.33 billion or 23.74 percent and went into the improvements of facilities of Dahilayan Adventure Park, hospital expansion, and new building construction of manufacturing and trading companies.

Misamis Occidental has invested P265.12 million in infrastructure services sector during the quarter.
This amount is 50.64 percent higher than the P175.99 million spent during the same period last year.
The funds were used in the construction of school buildings, apartments and hospital.

In Lanao del Norte, however, the investments dropped from P337.08 million to P153.14 million, a 54.57 percent decline. Investment areas include the establishment of amusement park, commercial space leasing, gasoline stations, transport rental, pension house, and farm supply.

Camiguin also suffered a decline by 81.56 percent, from P110.02 million to P20.29 million. (RCAguhob/PIA10-Misamis Occidental)