Thai firm to invest $40 million in RP
MANILA, Philippines - Thailand’s leading agro-industrial and food conglomerate Charoen Pokphand Foods Public Co. Limited is investing an additional $40 million in the Philippines for the expansion of an integrated feed and prawn hatchery and grow-out farms in Luzon.
This was revealed yesterday by Agriculture Secretary Arthur C. Yap during a speech-presentation at the Philippine Economic Briefing at the Makati Shangri-La Hotel.
Yap said CP’s local subsidiary, CPF Philippines, is already operating in Cebu.
According to its website, CPF Philippines, has a shrimp feed plant in Cebu with a production capacity of 30,000 tons a year.
The Thai firm is putting up a fish feed plant in Luzon that would have a bigger production capacity of 60,000 tons/year.
The plant is expected to be completed by 2010.
It is also going into swine farming with a population of 1,200 sows and 10,400 breeding pigs.
In an earlier press release, Adirek Sripratak, president and chief executive officer of CPF, said CPF’s investment in the Philippines would be a “good opportunity” to efficiently run a business as the Philippines has a more than 92 million population whose pork consumption is 15 kilogram per person per year which is higher than the Thais’ consumption of 13 kg/person/year.
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