April 20, 2012

Philippines to bid for multi-billion peso grain terminal

The Philippines will bid for the PHP1.25 billion (US$29.32 million) grains project by the end of 2012 that will establish bulk handling system for corn nationwide.

The feasibility study for the Grains Central Project-to be rolled out under the public-private partnership (PPP) scheme-is already ongoing and that the Department of Agriculture expressed its plan to join the bidding plan.

The project aims to "upgrade, enhance and expand" existing operations in at least 15 corn postharvest processing and trading centers all over the country.

The processing centers would make it more efficient to produce and store corn as the government seeks to prop up corn production and prevent supply shortages that in turn will ensure the stable prices of meat products. Increases in price of yellow corn usually impact the prices of meat products such as pork and chicken.

The project is being undertaken by the International Finance Corporation and the feasibility study will have to go under scrutiny of the Investment Coordination Committee of the National Economic and Development Authority.