Sugar processing project gets BoI incentives
The Board of Investments (BoI) has approved the granting of incentives to Forever Nutriliving Corp. for its P21.5-million sugar processing plant, which will produce antioxidants and soft sugar primarily for export.
In a statement, Trade Undersecretary and BOI Managing Head Adrian S. Cristobal Jr. said the proposed sugar processing plant would be put up in the sugar milling complex in Negros Occidental of Sagay Central Inc.
Forever Nutriliving will source its raw materials from Sagay Central and export 70 percent of its production. The company is expected to produce 32,400 kilos of antioxidants and 7,020 tons of soft sugar yearly, according to Cristobal.
Apart from boosting sugar exports, the sugar processing plant will help address the sugar needs of local industries and create more jobs in Negros.
“This is one of the tracks we are taking to further develop Philippine industries and achieve our export goals. Investments in agricultural products with added value will enhance the competitiveness and marketability of our products,” Cristobal said.
Extracted from cane syrup, the antioxidants are used as food additives to counter food deterioration, as medication for various forms of brain injury, and as stabilizers in fuel, lubricants and gasoline to prevent oxidation and smelly residues.
Soft sugar is a partially refined sugar product with distinctive brown color, and is used for culinary purposes.
