INVESTMENT promotion agencies (IPAs) recently raked in over P5-billion worth of projects, including electronic vehicle (EV) manufacturing and parent stock breeder farms for chickens.
The Philippine Economic Zone Authority (Peza) announced that it signed a memorandum of understanding with Korean EV firm Enplus Co. Ltd. to provide and manufacture fuel-saving EVs in the economic zones.
Enplus, which is the first electronic vehicle manufacturer to become a Peza locator, is set to invest P5 billion for a facility producing electric cars and electric jeepneys. It will be located in Negros Occidental.
“Using EVs is better for our environment as they emit fewer greenhouse gases and air pollutants than vehicles using petrol or diesel. In the global context, electric cars have yet to be mainstream,” Peza Director General Charito Plaza said.
Meanwhile, the Board of Investments (BOI) approved the projects of Broilers Club Inc. (BCI) and STMP Agri Business Corp. amounting to a total of P168 million. They are recognized as new producer of eggs of broiler chicken and new producer of parent stock hatching eggs integrated with growing of grandparent stock, respectively, based on the Investment Priority Plan.
The P87.8-million project by BCI includes three poultry houses in Davao del Sur. With a capacity of 4.9 million eggs annually, it seeks to employ 43 personnel.
STMP’s P80-million project in Batangas will have a capacity of 2.15 million intact eggs annually and will employ 25 workers. In addition, it also seeks to produce 1.9 million hatching eggs along with growing grandparent stocks of 17,820 female breeders and 1,782 male breeders per year.
“These projects add essential support to the meat processing industry as parent stock breeder farms are considered vital links to the country’s poultry supply chain and broiler chickens are reared and prepared for meat consumption,” Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo said.
Both companies have entered into a contract agreement to supply food giant San Miguel Foods Inc., BOI noted.