CP Group Thailand eyes $2 billion expansion project in the PH
Charoen Pokphad Group (CP Group), Thailand’s largest agricultural company is planning on to introduce a $2 billion investment on its pork and chicken production in the Philippines, in the next five years according to Agriculture secretary Emmanuel Piñol.
The CP Group decided to make this investment in the country because we are the only Asian country that has been free from foot and mouth disease and bird flu. This possible expansion is expected to boost the local demand for corn and soybeans, main component of the feeding production, and is set to employ more than 2,000 jobs. The government has suggested key locations for this expansion in Bukidnon, Sarangani, North Cotabato, Maguindanao, Agusan del Sur and del Norte and even in Zamboanga.
This multi-billion commitment by CP was made during the President’s recent official visit to the Kingdom.
Video: Bloomberg Philippines