The Board of Investments (BoI), in principle, has already approved the application of Monde Nissin Corporation to establish a manufacturing and processing plant in Davao City amounting to P1.2 billion.

“The Board already approved the project but the firm is yet to submit pre-registration requirements, namely acceptance of the terms and conditions of their registration.  They have not been issued the actual Certificate of Registration, so they are not yet registered,” the BoI said on Tuesday.

According to the Monde Nissin Corporation, formerly Monde Denmark Nissin Biscuit Corporation, the total cost of its manufacturing and processing plant in Barangay Ilang, Bunawan, Davao City is P1,213,212,716.98 in producing the infamous Butter Coconut Biscuits.

The cost is composed of 46 percent for site preparation and development; 48 percent for the acquisition of machinery and equipment including installation; and the remaining 6 percent is for working capital.

Commercial operations for the said project have already started, deemed to generate 111 jobs with regular positions.

“The project involves the manufacturing of butter coconut biscuits intended for distribution to Visayas, and Mindanao initially, with the potential to expand in Indonesia and other neighboring Southeast Asian countries in the future. At present, the firm has an existing butter coconut biscuits manufacturing plant in Sta. Rosa, Laguna for the Luzon market,” the company said in a statement.

Further, the company noted that except for the manual preparation of raw materials, the whole butter coconut biscuits production and packaging of finished goods is fully mechanized using up-to-date and market-appropriate technologies.

“Previously, packaging was done manually. For this project, the firm will employ advanced automation technology for the packaging and movement of finished goods which will require highly skilled workers who are hired locally. Through this project, the movement of raw materials and finished goods is expected to be stimulated in the southern regions,” the statement further stressed.