BOI approves P168-M agri projects

Published October 24, 2021, 8:40 PM

by Bernie Cahiles-Magkilat

The Board of Investments (BOI) has approved the projects of Broilers Club, Inc. and STMP Agri Business Corp. with combined investments of P168 million.

BCI is s new producer of eggs of broiler chicken, while STMP is a new producer of Parent Stock (PS) Hatching Eggs Integrated with Growing of Grandparent (GP) Stock. Both projects are qualified for tax incentives under the CREATE Act under the listing ““Agriculture, Fishery and Forestry” of the 2020 Investment Priorities Plan.

“These projects adds 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 Rodolfo said.

BCI’s P87.8 million project consists of three poultry houses is located in Sta. Cruz, Davao del Sur. The poultry has a capacity of 4.9 million eggs annually. It employs 43 individuals. STMP’s P80 million project, situated in Nasugbu, Batangas, will start in January 2022 with 25 workers.

STMP has a capacity of 2.15 million intact eggs, 1.9 million hatching eggs along with growing grandparent stocks of 17,820 female breeders and 1,782 male breeders per year. Both firms have contract agreement to supply food giant San Miguel Foods, Inc. (SMFI). Eventually, these firms will contribute to the supply requirements of the local markets which includes retail and institutional buyers.

 
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