MPIC, Israeli partner to build Philippines' biggest vegetable greenhouse facility

MANILA, Philippines — Metro Pacific Investments Corp. is looking to carve its place in the local agriculture sector as the company announced its plan to build the largest greenhouse facility in the Philippines.

In a disclosure sent to the Philippine Stock Exchange index on Monday, the Pangilinan-led conglomerate said its subsidiary, Metro Pacific Agro Ventures, is constructing a 22-hectare vegetable greenhouse in San Rafael, Bulacan.

The disclosure indicated the Bulacan property will house a complex of modern greenhouses, which MPIC said will be able to produce high-quality produce yearlong. 

That said, the project will already comprise an entire value chain that includes seedlings production, vegetable cultivation, sorting, packaging, and even marketing of the goods. 

The company said the farming techniques that will be used will be sustainable, as the project will use less water, less land, and will employ shorter crop cycles.

This investment into the sector was done alongside Innovative Agriculture Industry Ltd., an affiliate of an Israeli partner, LR Group. This is the second time that MPIC and LR Group partnered up, as the first was under a dairy partnership. 

READ: MPIC, Israeli firm launch dairy facility

“By introducing advanced technology and best practices, productivity and quality are set to increase, resulting in better income and welfare for local residents,” LR Group chairman Ilan Weiss said.

The move came as the country’s food security woes came into clear view as supply chain problem stoke a multi-year high inflation.

The LR Group has been visible in the agriculture sector since 1985, having undertaken projects involving farming, greenhouse, poultry, and dairy. 

As of 1:58 p.m. Monday, shares in MPI were trading up 0.72%.