Negros Occ. gets P60-M grant from agriculture fund

BACOLOD CITY, Philippines — Five projects in Negros Occidental had received P60.389 million in grants from the Agricultural Competitiveness Enhancement Fund as of last June, records of the Department of Agriculture regional field unit 6 show. Soyfood producer Mutya Illustrisimo in San Carlos City got P3.171 million, equivalent to the total project cost. The prawn production of Maridal Corp. in Sagay and Escalante cities received P24.470 million, which adding to the company equity of P26.602 million amounts to P51.072 million in total project cost. The ACEF grant released to the organic fertilizer modernization of Bodega Farm Enterprise in Valladolid was P9.462 million. Added to equity of P9.37 million, the project cost totals P18.8 million. Also in Sagay City, the prawn farm expansion and production operations of Sagay Aqua Ventures Corp. received P15 million. Including some P20.291 million in equity, the project costs P35.291 million. The integrated agribusiness productivity project of GH Foods Corp. in Murcia got P8.285 million, so far, out of the P13.564 million committed by ACEF. The project, engaged in the processing of cucumber pickles, kaong and nata de coco, has a total cost of P25.072 million, including equity amounting to P11.508 million. — Nanette L. Guadalquiver, BusinessWorld