November 19, 2012

Thailand's Charoen Pokphand project in the Philippines to proceed

Thailand's Charoen Pokphand secured fiscal incentives for a PHP2.3-billion (US$55.8 million) poultry project in four Luzon provinces in the Philippines.

The Board of Investments (BoI) said it approved the integration production project of Charoen Pokphand, which also sought incentives for two other previous investments.

The poultry project will include parent stock farms in Tarlac and Pangasinan as well as six broiler farms in Bulacan and Nueva Ecija. The farms are expected to produce up to 21,847 tonnes annually and are set to begin operations by February 2013.

This is the third big-ticket project of CP, following its recent investment in aqua feeds and breeder or slaughter hogs.

Meanwhile, the BoI approved the granting of incentives to the PHP127.1-million (US$3.1 million) project of Filipino-owned United BLC to expand hatchery operations.

United BLC's hatchery expansion involves the procurement of 15 modern equipment to help increase the plant's production efficiency by 25%.

Its 10,000-square meter project will be located in Indang, Cavite. The plant will have an annual capacity of 26,952,000 chickens. Commercial production will begin in January 2013.