Philippine Agriculture Receives USD 351.3 Million Investment from US Investors
US Investors Invest USD 351.3 Million in Philippine Agriculture
(Agricultural Wealth Network) According to the Philippine Department of Agriculture on November 11, the US investor Alan Group has committed to investing USD 351.3 million in Philippine agricultural projects, including feed processing, food processing, feed production and biofuel production, among others.
The Department of Agriculture stated that the investor plans to build a biofuel plant in the Philippines using jatropha oil as raw material, with an annual capacity of 360 million liters, requiring a total investment of USD 312.5 million.
The US company Novick Industrial also intends to invest in Philippine agriculture, including food processing, grain trading and the development of feed processing. The feed processing plant alone will attract USD 15 million in investment.
Verdant Ocean may also invest about USD 3 million in aquaculture and marine food production projects.
Two recent strong typhoons caused severe damage to Philippine agriculture, with losses potentially reaching 24 billion pesos.
The Department of Agriculture stated that the investor plans to build a biofuel plant in the Philippines using jatropha oil as raw material, with an annual capacity of 360 million liters, requiring a total investment of USD 312.5 million.
The US company Novick Industrial also intends to invest in Philippine agriculture, including food processing, grain trading and the development of feed processing. The feed processing plant alone will attract USD 15 million in investment.
Verdant Ocean may also invest about USD 3 million in aquaculture and marine food production projects.
Two recent strong typhoons caused severe damage to Philippine agriculture, with losses potentially reaching 24 billion pesos.