MANILA, Philippines – Listed sugar firm Roxas Holdings Inc. has extended a P7.5 million endowment fund to the De La Salle University (DLSU) to fund research and development initiatives in the sugar industry.
The collaboration aims to redefine boundaries that can pave the way for more opportunities in the sector.
“We are optimistic this partnership will change the landscape of the sugar industry in the Philippines as RHI and DLSU collaborate on research initiatives that would enhance the production and processing of sugarcane into sugar and other by-products,” RHI president and chief executive officer Hubert Tubio said.
For his part, DLSU president Raymundo Suplido is confident the collaboration will spur the development of the sugar industry.
“We are glad with this partnership and are excited to collaborate more closely with RHI in coming up with researches in connection with the sugar industry,” Suplido said.
Suplido said DLSU would drive initiatives to widen the scope of sugar through collaborative researches.
The Sugar Regulatory Administration earlier said it expected bigger challenges this year due to dwindling farm areas and El Niño phenomenon.
The SRA added it is important to produce more sugar at a lower cost given the severe weather conditions brought about by El Niño.
The RHI-DSLU agreement is the third deal signed by the sugar producer with an educational institution since 2014.
The first two were with the University of the Philippines-Los Baños and the University of St. La Salle in Bacolod City.
RHI, the largest integrated sugar business in the country, owns Central Azucarera Don Pedro Inc., Central Azucarera de la Carlota and Roxol Bioenergy Corp. It also holds a 45 percent stake in Hawaiian-Philippine Co.