Philippines: Chiquita-Unifrutti to expand in former rebel stronghold
A subsidiary of Chiquita Brands International (NYSE: CQB) in the Philippines has told the local press of plans to invest US$120 million in new banana plantations in an area previously occupied by an Islamic terrorist group.
Chiquita-Unifruitti senior vice-president Edgar L. Bullecer told Bworldonline.com the new farm would cover 4,000 hectares of land in the area of Camp Abubakar in Maguindanao, which was a stronghold of the Moro Islamic Liberation Front (MILF) until government forces took it over in 2000.
"Investing in what used to be the (MILF) camp is significant because we have been pushing for peace and development as a solution to armed conflict, Bullecer was quoted as saying.
"We will be able to provide employment and income to at least 6,000 people."
He told the publication the move followed an investment with the Paglas family in a 1,000-hectare farm in the province, which is part of the Autonomous Region in Muslim Mindanao (ARMM).
Photo: www.shutterstock.com
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