March 27, 2013

Charoen Pokphand invests US$120 million in Philippine projects expansion

Charoen Pokphand Foods (CPF) has allotted US$120 million for the expansion of its agri-business operations in the Philippines over the next three years.

Kasem Manoi, finance officer of Charoen's Philippine unit, said the fresh investment will go to its livestock and aquaculture projects focusing on shrimp and fish.

"We are investing this money to expand our livestock and aquaculture business in the next three years. The company views the Philippines as an important growth area for CPF's business interests," he said in a statement.

The company will boost its shrimp hatchery and fish culture operations in the country.

Additional investments, Manoi said, will also go to the company's livestock and poultry business in Pampanga province, including broiler, layer and swine.

CPF operates agro-industrial businesses, including animal farming and manufacturing of food products.

CPF Philippines Corp. was established in 2007, with shrimp hatchery as its initial business. It now has two core business lines: livestock business, which comprises broiler, layer and swine; and aquaculture business, mainly focusing on shrimp and fish.

The products in these two business lines can be classified into three main categories: animal feed, meat (including live animal), and cooked meat and ready-to-eat food products.