Philippines company Century Pacific Food has confirmed it is to spend PHP250m (US$4.87m) on a new coconut milk production facility.
Responding to a story in the Philippine Daily Inquirer, the Pasig City-based food conglomerate confirmed it will be setting up a separate production unit at its facility in General Santos City in the south of the country.
Go deeper with GlobalData
But it said the PHP250m figure only covers building costs and does not include other capital expenditure needed to run the facility.
The goal is to produce 15.3m kilograms of coconut milk a year at the plant which will be exported to Malaysia through Linaco Manufacturing, a supplier of coconut-related products.
The project, which is currently underway, is expected to be fully operational by early next year.
See Also:
It has been approved by the country’s Board of Investments and will be able to access fiscal and non-fiscal incentives under the country’s Investment Priorities Plan, which is intended to boost certain key economic activities.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe application was made under the name of Century Pacific subsidiary Century Pacific Agricultural Ventures.
