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MANILA, Philippines - A Thai company will spend P1.352 billion to put up a hog farm and slaughterhouse in the Philippines.
In a statement, the Board of Investments (BOI) said it approved tax perks for the project of Charoen Pokphand Foods Philippines Corp. (CPFPC).
The project involves the establishment of three swine farms for the production of breeder stocks: one farm in Floridablanca, Pampanga; and two farms in Concepcion, Tarlac.
The company plans to raise 25,453 heads of swine and 3,647 metric tons of slaughtered hogs once the project starts commercial operations in 2013.
The BOI said the Thai company's project would create an average net value-added of 75 percent of the economy.
The company plans to source raw materials for the manufacture of livestock feeds - corn, soybean, fish meal and other ingredients - from both local and foreign suppliers.
CPFPC is a wholly owned subsidiary of Thailand’s CP Foods PCL which already has existing business operations in the Philippines, including production and marketing of prawn and fish fries.
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