Charoen Pokphand Foods Plc (CPF) plans to spend 1.53 billion baht (€31.4 million) to build aquatic feed plants and a pig farm in the Philippines.
The company will spend 1.4 billion baht (€28.6m) to construct a shrimp-feed factory with a capacity of 30,000 tonnes per year in Cebu province and a fish-feed plant with a capacity of 60,000 tonnes per year on Luzon island.
It will also invest 125 million baht (€2.56m) in a pig farm in Luzon, said Adirek Sripatak, CPF's president and CEO. Construction of the projects is expected to be completed next year.
"There is vast potential in the Philippines because of the country's large population," said Adirek. "The pig farm should be successful because of high pork consumption among the Philippine people."
Average pork consumption in the Philippines is about 15 kg per person per year, compared with 13 kg in Thailand.