Taiwan firm to invest in Apeco

MANILA, Philippines - A Taiwanese agribusiness company is seeking the approval of the Aurora Pacific Economic Zone and Freeport Authority (Apeco) for investments in three separate, export-oriented projects that it intends to set up beginning this year.

Apeco president and CEO Malcolm I. Sarmiento, Jr., identified the company as Nan Tsan Aurora Ltd., Inc. which is engaged in agriculture, mariculture, aquaculture and fish and agri-processing.

The company submitted its proposal through a letter of intent sent to Sarmiento by lawyer Johannes R. Bernabe, the company’s legal representative. Bernabe also provided a brief overview of the said projects that involve fish processing, eel processing and papaya farming and processing.

Sarmiento said Nan Tsan plans to engage initially in fish processing as its priority undertaking, for which it will lease a seaside area of 1,000 square meters where it will build and install the required facilities and equipment. This undertaking will kick off starting the second quarter of 2013.

Known as one of the largest eel farming and processing firms in Asia, Nan Tsan intends to apply its extensive expertise and resources in the breeding, cultivation and harvest of eels in the inland waters of Aurora, particularly the rivers and streams of the province.

While no figures were given for the cost of the eel processing facilities and equipment, the company will be infusing at least $1.25 million or about P50.86 million for the fish processing and papaya projects alone.

On the other hand, the Taiwanese firm will require at least 10 hectares of land within the ecozone for the planting and cultivation of papaya. Plans include building modern facilities for the handling, storage and packaging of the harvested fruit. It will also involve gathering the seeds which will be exported to Taiwan. The flesh of the fruit may be sold as food or food product, or even as by-product for use as ingredient or raw material for pharmaceutical firms or manufacturers of cosmetic projects.

The land preparation and cultivation phase is targeted to start in mid-2013 while the completion date for the processing component is not later than the first quarter of next year.

Sarmiento said that at initial operation, the three projects are expected to employ a total of more than 150 persons, excluding the office staff.