August 24, 2010
Philippines' BOI approves US$5.1-million animal feeds facility
The Philippine Board of Investments (BOI) has recently approved the application of Pilmico Foods Corporation (PFC) as an expanding producer of animal feeds in their milling facility at Kiwalan Cove, Iligan City.
The PHP230-million (US$5.1-million) project involves the establishment of a new feed mill line with a production capacity of 20 tonnes per hour or an annual capacity of 115,000 tonnes. It is slated to start commercial operation in September 2010 employing an additional 89 personnel.
This project is an expansion of its existing feed mill which started operations in March 2007 and is operating close to its full capacity just to meet its growing market demand for animal feeds. The new complete feed mill line is expected to double the capacity of the existing mill.
The PFC is wholly owned by Aboitiz Equity Ventures, the holding company of the Cebu-based Aboitiz family.