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.