Agriculture projects approved by the Board of Investments (BOI) reached P9.59 billion in the first six months of the year.
The BOI said these projects were endorsed byt he Department of Agriculture as Tier II agri-based projects under the Strategic Investment Priority plan pursuant to the Corporate Recovery and Tax Incentives for Enterprises Act Act.
Of the P13.38 billion approved from February 2 to June 11 by the BOI worth between P1 billion and P15 billion, agriculture sector led with the highest investments at P6.05 billion.
These projects include:
Metro Pacific Dairy Farms, Inc.’s facility in Bay, Laguna for an integrated dairy farm and processing capable of producing more than 9 million liters of dairy and plant-based beverage products annually;
Metro Pacific Fresh’s facility for the production of 1,620 metric tons of vegetables annually in collaboration with Innovative Agro-Industry an affiliate of Israel’s LR Group. The project will leverage technologies developed to cultivate high-quality vegetables even in challenging desert climates;
SL Agritech Corp.’s production of hybrid rice seeds and. palay in Tabuk City, Kalinga. The facility will have an annual capacity of 17.5 million kilograms (kg) of hybrid rice seeds and 3.5 kg of palay;
Vifel Ice Plant and Cold Storage Inc.’s cold and dry storage facility with a capacity of 5,824 pallets for cold storage and 2,606 pallets for dry storage in Tagoloan, Misamis Oriental and;
Chick Haven, Inc.’s hatchery facility in Toril, Davao City, with an annual capacity of 18.25 million eggs.
