THE Board of Investments (BoI) said it expects nine procurement tie-ups to generate P414 million in investment after San Miguel Foods, Inc. (SMFI) participated in a business matching exercise in Cotabato Province.
In a statement Tuesday, the BoI said the Procurement Matching Activity and Financing Forum organized in Kidapawan City, Cotabato in May generated opportunities for micro, small and medium enterprise (MSME) poultry raisers to collaborate with SMFI on technology upgrades, marketing and financing.
“During the matching session, nine participants agreed to partner with SMFI. Among the nine, four individuals who are already into poultry growing have expressed their intention to upgrade their poultry facilities. Five other individuals intend to venture into new poultry projects,” it said.
The BoI said SMFI is looking for more partners for its poultry business by tapping cooperatives and overseas Filipino workers, aside from MSMEs, for its “growership program.”
The growership program requires partners to provide SMFI with land, buildings, equipment, water and electricity, security, labor, and farm management while the company provides day-old chicks, feed, vaccines, medicine, technical assistance, laboratory services and payment schemes.
“By partnering with BoI and tapping the MSMEs, the procurement process could ramp up the SMFI dressing plant requirements and improve its efficiency utilization. Meanwhile, the Development Bank of the Philippines (DBP) has also committed to back the financing needs of the MSMEs,” it said.
SMFI is hoping to tap contract growers for its P2.2-billion integrated feed mill plant in Sta. Cruz, Davao del Sur and P1.3-billion dressing plant, which is projected to require around 40,000 chickens per day. — Denise A. Valdez
REFERENCE: https://www.bworldonline.com/boi-sees-p414m-worth-of-investment-from-cotabato-chicken-contract-growing-deals/
