MANILA, Feb 8 (Reuters) - Philippine President Gloria Macapagal Arroyo announced the creation of a special army unit on Friday to protect mines, plantations and power transmission lines on the troubled southern island of Mindanao.

Arroyo said the new unit, to be called an "investment defence force", would shield against attacks by communist New People's Army (NPA) rebels seeking to damage the country's economy, particularly the power and mineral sectors.

"We also have already identified additional investment assets in Mindanao that need more weapons and personnel as protective shields," the president said after inaugurating a road project on Mindanao.

Arroyo and her National Security Adviser, Norberto Gonzales, gave no further details on the new military unit.

Last month, General Hermogenes Esperon, the military chief, offered to train, equip and supervise private security guards to defend mines and plantations across the archipelago.

Arroyo also reiterated her government's resolve to defeat the communist rebels by 2010 and bring in more investments in poor but resource-rich regions in the country.

The president's announcement came three days after NPA rebels stormed a gold processing plant in the Compostela region on Mindanao island, killing two security guards.

The NPA, waging one of the world's longest-runing communist insurgencies, is opposed to foreign and local corporations mining Philippine sites and often attacks their operations.

Last month, the NPA attacked a mine majority-owned by London-listed Xstrata Plc, setting fire to buildings in the south. Last year, the NPA attacked a gold mine in another area in Compostela, setting fire to a bulldozer and a welding machine.

The Philippine government wants to attract billions of dollars in foreign investment to its mineral sector and has offered to work with the mining firms to help improve security. (Reporting by Manny Mogato, editing by Raju Gopalakrishnan)

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