Thai firm investing $40 M in the Philippines
Posted on October 15th, 2009
The Philippines is getting more investments from other countries. This time, Thailand’s 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.
Charoen Pokphand is Thailand’s leading agro-industrial and food conglomerate.
Agriculture Secretary Arthur C. Yap made the announcement on Thursday, during his speech-presentation at the Philippines Economic Briefing at the Makati Shangri-La Hotel. He added that Charoen Pokphand’s local subsidiary, CPF Philippines, is already operating in Cebu.
CPF Philippines has a shrimp feed plant in Cebu with a production capacity of 30,000 tons a year, according to the company’s website. The Thai firm is now interested in putting up a fish feed plant in Luzon which would have a bigger production capacity of 60,000 tons a year, and they are expecting it to be completed by 2010.
The company is also venturing into swine farming with a population of 1,200 sows and 10,400 breeding pigs.
Adirek Sripratak, president and chief executive officer of CPF, said in an earlier interview that 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 populations whose pork consumption is 15 kilogram per person per year. He said, that is higher than the Thais’ consumption of 13 kg per person per year.
