Sustainable agricultural startup Kapwa Agri Ventures is eyeing a P1-billion integrated bamboo production project in three provinces of Aurora, including Casiguran where Aurora economic and Freeport zone is located.
Gil Taway IV, president and chief executive officer, of the Aurora-Pacific Economic Zone Authority (APECO) said in an interview Patrick Doromal, Kapwa Agri president, has indicated funding for the project is being finalized.
Taway said Kapwa Agri will need 5,000 hectares of property in Parcel 2 of Aurora ecozone.
Separately, Rizome Philippines, a manufacturing company building materials made from 100 percent bamboo, will start off the integrated project with a processing facility in APECO.
According to Taway, Rizome will source bamboo from existing plantations in Dilasag, Casiguran and Dinalungan.
He said inventory on the availability of supply is ongoing but based on initial report, there is a substantial volume to support processing of bamboo, a known substitute for lumber as well as ply board and material for kevlar.
Rizome’s products will be exported to the United States and Europe,
Kapwa Agri and Rizome have operations in Cagayan de Oro, Nueva Vizcaya, Quirino and Isabela but Taway sees the advantage of being registered with APECO for the incentives it grants to locators.
APECO will sign with Rizome a zone lease agreement, investment contract and a memorandum of agreement (MOA) as soon as the inventory of the bamboo supply is completed.
APECO has finished the draft MOA with Kapwa Agri for the latter’s concurrence.
Taway said the projects will tap the indigenous peoples (IPs) in the province to form cooperatives for the growing and production of bamboo to be sold to Kapwa Agri.
He said APECO will sign a MOA with the National Commission of Indigenous Peoples and the Cooperative Industry Development Authority to operationalize the plan.
“This way, bamboo growers will have a steady income and an assured market,” Taway said.– Irma Isip
