Japanese company to invest in Zamboecozone

ZAMBOANGA CITY (MindaNews/25 August) – A Japanese firm engaged in the processing of coconut by-products is set to invest millions at the Zamboanga City Special Economic Zone Authority and Freeport (Zamboecozone).

Christopher Lawrence Arnuco, Zamboecozone Chairman and Administrator, said Tokyo Tec Corp is putting up two factories in the last quarter of this year in a four-hectare area of Zamboecozone’s 1st Industrial Park.

Arnuco said one of the factories is for food production and the other one is for energy. The firm is set to complete next month the needed documents including Securities and Exchange Commission registration.

He said the entry of Tokyo Tec Corp will provide livelihood opportunities to farmers citing the firm would buy at least 100,000 coconuts daily to be processed.

He said the coconuts will be processed into coco water and virgin coconut oil while the waste materials will be converted into energy sources such as activated carbon and bio-diesel.

Arnuco said Tokyo Tec Corp will forge a Memorandum of Agreement with the leaders and members of a farmers’ cooperative in Barangay Dulian-Upper Bungiao for the supply of the needed raw materials.

“The investors (Tokyo Tec Corp) have already met with the leaders and members of the cooperative in Barangay Dulian-Upper Bungiao to discuss the contents of their MOA. This involves the supply of 100,000 coconuts per day to Tokyo Tec Corp,” he added.

He said Tokyo Tec Corp will be the second Japanese firm to invest at Zamboecozone. The first was Art Nature, a company that produces wig.

The official said they have a total of 17 registered investors with 27 applications pending approval by the Zamboecozone board. (MindaNews)

URL: http://www.mindanews.com/top-stories/2014/08/25/japanese-company-to-invest-in-zamboecozone/

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