Hilldise Banana Plantation
... family and the neighboring communities. The local governments can also reap benefits in a form of taxes. c. Description of the Project: This project calls for the establishment of a cardaba banana plantation on 1,200 hectares more or less owned by various landowners. The land is located in Barrio 9, Municipality of Banga, Province of South Cotabato in Mindanao Philippines. The proposed project also calls for the establishment of a processing plant for banana chips intended for foreign market since it commands a very attractive price. d. Location of the Project: The Municipality of Banga is approximately sixty six (66) kilometers away from General Santos City, one of the corridors of the BIMP-EAGA in Mindanao. It can be reached by car from General Santos City through concrete road. e. Estimated Cost of the Project: The total project cost for the establishment of a 1,200 hectare cardaba banana plantation is estimated to be P154,238,600.00 broken down as follows: Development Cost P 59,875,200.00 Production Cost 142,845,000.00 Adm. & Other Operating Cost 54,428,400.00 Capital Asset 18,050,000.00 Total P 275,198,600.00 Less: Sales for the 2nd year of operation 120,960,000.00 Required Investment P 154,238,600.00 The required investment will be obtained from a financial institution at a rate of interest of eighteen percent (18%). The loan portfolio that can be obtained is P90,000,000.00 on the first year and P65,000,000.00 on the second year of operation. This long term loan is payable for a period of five (5) years. f. Viability of the Project: Technical Feasibility The project is technically feasible due to the following reasons: Mindanao is fit for cardaba banana plantation project being free from typhoon and the soils and climate is very much suitable. Climatic condition such as rainfall, temperature, relative humidity, soil evaporation, number of rainy days per month, and duration of sunshine per day are all favorable for banana growth. This is in addition to the fact that the area...