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Us investors invest $351.3 million in Philippine Agriculture

Published: 2024-11-05 Author: mysheen
Last Updated: 2024/11/05, Us investors invest $351.3 million in Philippine Agriculture

(Agricultural Wealth Network) Alan Group, a US investor, has committed $351.3 million to agriculture projects in the Philippines, including feed processing, food processing, feed production and biofuel production, the Philippine Department of Agriculture said on November 11.

Investors plan to build a leprosy oil-based biofuel plant in the Philippines with an annual production capacity of 3. 600 million litres, requiring a total investment of US $312.5 million.

Novick Industries Inc. of the United States is also interested in investing in Philippine agriculture, including food processing, grain trade and development of feed processing. Feed processing plants alone will attract $15 million in investment.

Verdant Ocean may also invest about $3 million in aquaculture and marine food production projects.

Two recent typhoons have caused severe damage to Philippine agriculture, with losses likely to reach 24 billion pesos.

 
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