Indian firm Kiri Industries Limited is exploring an investment partnership with the Makilala Mining Company Inc. to establish an integrated copper smelting, refining, and fertilizer production facility in the Philippines, the Department of Trade and Industry said.
The prospective project will support the country’s drive for industrial transformation, job creation, and agricultural resilience, the DTI said in a statement on Sunday, August 17.
KIL chairman and managing director Manish Kiri disclosed the plan during a meeting with President Ferdinand R. Marcos Jr. at the Taj West End in Bengaluru, India, during the Philippine president’s state visit in the first week of August, the DTI said.
The project will complement the Board of Investments’ (BOI) Green Metals initiative, which seeks to harness the Philippines’ mineral wealth, specifically copper, nickel, and cobalt, the DTI said.
The program has committed to building responsible, sustainable processing industries that align with the global transition to clean energy, the DTI said.
“This has the potential to become a legacy investment that transforms our critical minerals sector into a value-adding, job-generating, and agriculture-supporting engine for national growth. Kiri’s vision is in line with our Bagong Pilipinas agenda. It is green, inclusive, and deeply connected to the development of our rural communities,” Trade and Industry Secretary Ma. Cristina Roque said.
Kiri informed Marcos about KIL’s investment interest, having seen the Philippines as an ideal environment for a long-term venture, the DTI said.
The investment will strengthen the country’s critical minerals value chain and deliver direct benefits to the local agricultural sector, the DTI said. — Malaya Business News Team
