P1.2-B food processing plant to rise in MisOr

Phividec Administrator Joseph Donato Bernido (L) signs the P1.2-billion lease agreement with Borcha Punyatarkorn, director of Thai World Group on Friday (11 April 2025). MindaNews photo by FROILAN GALLARDO

TAGOLOAN, Misamis Oriental (MindaNews / 11 April) — The PHIVIDEC Industrial Authority on Friday signed a 20-year lease agreement with a Thai-owned food conglomerate for a P1.2-billion food processing plant for frozen coconut meat and milk in this town’s 3,000-hectare economic zone.

PHIVIDEC Administrator Joseph Donato Bernido said the plant to be built by Thai World Group will bring new life to 153,000 coconut farm owners, farmers and tenants in Northern Mindanao.

“This investment is a vote of confidence for northern Mindanao,” Bernido said during a press conference after the signing Friday.

Borcha Punyatarkorn, director of Thai World Group said their affiliate Philco Food Processing Corporation leased four hectares of land at the PHIVIDEC Industrial Estate to build their facility that can produce 78,000 tons of high quality coconut milk.

Punyatarkorn said the manufacturing plant would employ 1,500 workers and need 500,000 coconuts a day to produce the milk and frozen meat that would be exported to the US, Europe and other parts of Asia.

“We will have coconut buying stations in Misamis Oriental, Lanao del Norte, Pagadian and Dipolog. We like it here because the Philippines is the third biggest producer of coconuts in the world,” he said.

He said they also like that PHIVIDEC has a good seaport where their products can be loaded to waiting cargo hips.

PHIVIDEC officials said the Thai World Group will invest P770 million for their manufacturing equipment, P200 million for the buildings and P167 million for the working capital. (Froilan Gallardo/MindaNews)