BOI OKs P2.4-B poultry farm projects
MANILA, Philippines - The Board of Investments (BOI) has approved the registration of two poultry production projects worth P2.4 billion.
BOI approved the P2.32 billion-worth integrated production project of Thai-owned Charoen Pokphand (CP) and the P127.1 million-worth project of Filipino company United BLC.
The CP project will include parent stock farms in Tarlac and Pangasinan as well as 6 broiler farms in Bulacan and Nueva Ecija.
The farms are expected to produce up to 21,847 metric tons poultry products annually and will begin operations in 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 United BLC project involves the procurement of 15 modern hatchery equipment.
United BLC will set up a 10,000-square meter hatchery project in Indang, Cavite. This will be leased exclusively by Tyson Agro-Ventures Inc., one of the country’s leading broiler chicken producers.
The plant will have an annual capacity of 26.95 million chickens. Commercial production will begin in January 2013.
Agriculture and agribusiness are among the investment activities listed under the Investment Priorities Plan (IPP) 2012, a list of annual investments that the government is promoting.
Agriculture contributed 11% to the country’s gross domestic product (GDP) in 2011 and employed 12 million workers. Of the agriculture contribution to GDP, the Bureau of Agricultural Statistics said poultry production accounted for 11%. - Rappler.com