Philippines embarks on poultry farm project in Davao

A PHP100 million (US$2.2 million) poultry farm project in Davao del Sur has tapped the ready money of overseas Filipino workers (OFWs), which would allow the OFWs to co-own the monitor the project online.

The poultry farm project, launched on Monday (Jan 4), will be a joint effort of Maharlika Agro-Marine Ventures and San Miguel Foods Inc., the country's leading poultry producer and distributor, to ensure a ready market for the project's poultry output.

The project will develop the poultry farm in Coronon, Davao del Sur, this year, through the combined capital from contributing OFWs who would be asked to provide PHP50,000 (US$1,100) for ownership of 500 shares.

The OFW contribution would comprise 49% of the production and operation expenses, while the 51% would come from the Davao City-based North Star Asia Holding Corp.