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MANILA - A company that will build a cold storage facility in Occidental Mindoro has secured tax perks from the Board of Investments.
In a statement, the BOI said it approved the registration of the P259 million cold storage project of Weal Builders Inc.
The cold storage facility, which will be located in Occidental Mindoro, has a 12,568 square meter plant for storing onions and other farm produce and is expected to start commercial operations on March 2013. It will employ 26 workers.
The BOI said the project will stimulate economic activities in the countryside and support local farmers, cooperatives, buyers, exporters, and importers of fruits and vegetables.
According to the Cold Chain Association of the Philippines, the country needs 10-15 additional cold storage facilities to meet food safety standards and make Philippine fruits and vegetable exports more competitive.
CCAP said plans are underway to build facilities in production areas like Davao, Cagayan de Oro, General Santos, as well as in Northern and Central Luzon, and Central Visayas.
The Weal Builders’ facility can store up to 320,000 bags of onions and other products a year at 27 kilograms per bag.
Under the BOI’s 2012 Investments Priorities Plan, agriculture or agribusiness is among the preferred investment activities. The agriculture activities under the IPP cover commercial production and processing of agricultural and fishery products as well as related activities like irrigation, post-harvest, cold storage, blast freezing, and fertilizer production.
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