CPF to invest in Philippine aquafeed production
Thailand's largest agribusiness company Charoen Pokphand Foods is investing P2.36 billion (€ 35.4m) for the production of aqua feeds in Capas, Tarlac (Philippines) seen to boost the potential of the country's shrimp production.
The Board of Investments (BOI) has granted incentives to CP Philippines for its aqua feed mill plant located on an 8 to 10-hectare area along the town’s national highway.
Comprising of four production lines for aquafeeds, the facility has existing power lines and abundant underground water.
CP Philippines will produce fish and shrimp feeds in various forms (pelletized, crumbled and extruded) by using the latest machineries and equipment acquired from China and Europe.
The plant has a capacity of 114,000 metric tons per year. The site will also have its own raw material and finished feeds warehouses and waste disposal system.
The project will employ 209 people and will start commercial operation in January 2011.
More investments planned
This project is one of major investments of CPF in the Philippines. CPF also plans to put up a shrimp feed mill in Cebu, a promoted economic zone, with a production capacity of 30,000 tons per year.
The company also plans a pig-farming operation also in Luzon where it will start raising 1,200 pedigree animals, eventually leading to 10,400 breeding pigs.
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