Thai firm investing P1 billion for coconut processing facility

MANILA, Philippines — A Thai-affiliated company is spending more than P1 billion to build a coconut processing facility in Misamis Oriental for exports, according to the Philippine Economic Zone Authority (PEZA).

PhilCo Food Processing Inc., an affiliate of the Thai World Group of Companies, is setting up the facility within the PHIVIDEC Industrial Estate in the municipality of Tagoloan.

The PHIVIDEC Industrial Authority and PhilCo signed a 20-year lease agreement for the facility on April 11.

The PEZA said it granted incentives to PhilCo including six years of income tax holidays under the CREATE MORE Act for the coconut processing facility.

Construction is expected to begin in October, while the start of commercial operations is targeted between December 2025 and January 2026.

Once completed, the facility is expected to generate 2,500 jobs.

It is also expected to benefit coconut farmers in northern Mindanao and nearby provinces.

The facility will be producing coconut milk to be exported to Thailand, the European Union and United States.

Thai World Group is the largest coconut processing company in Thailand.