AMERICAN COMPANIES are interested in $351.3 million worth of Philippine investments in projects covering biofuels, feedmilling, aquaculture/mariculture and food and beverage, the Department of Agriculture said in a statement.
Undersecretary Berna Romulo Puyat and Marriz Agbon, president of the DA?s Philippine Agricultural Development and Commercial Corp. (PADCC), said that business matching forums in Manila and Davao also generated initial trade possibilities amounting to $20.043 million, covering coffee, poultry and beef products along with geographic information system (GIS) technology.
The Alan Group, a biofuels producer, is one of those interested in investing in the country.
Representatives of the US company discussed with First Pampanga Biofuels Corp. its intention to establish a 360-million liter-per-year crude jatropha oil processing plant that will require an investment of about $312.5 million.
The Alan Group is also in talks with local biodiesel producer Freyvonne Milling Services regarding the potential of investing in the Philippines? coconut methyl esther (CME) industry.
?The Alan Group showed great interest in investing in the CME plant of Freyvonne in Davao City. Projected investment for the development of a 30 million liter per year biodiesel refinery is at $20 million,? Puyat and Agbon said.
Novick Industries, another privately held US company, expressed interest in various industries such as food processing, grains trading and shipping. Noverick plans to pump $15 million into a joint venture for a feedmill plant project.
Representatives of Novick Industries are also working on an arrangement with local firm Amarich Marketing International for the supply of Monk?s Blend coffee to the US market.
?Novick president Victor Luyi Ogbebor disclosed to Amabel Frias, Amarich general manager, that he will return in December 2009 to visit the latter?s coffee plantation in Bukidnon. Novick is targeting a delivery of a total of 400 boxes for coffee from Amarich Marketing International, valued at approximately $31,600,? the DA officials said.
Verdant Ocean, an exporter of aquaculture feed and equipment and importer of fresh seafood, is considering investing up to $3 million in aquaculture projects and sustainable seafood production.
Puyat and Agbon said that 24 US companies participated in the business matching sessions. About 210 Filipino business people participated.
Local firm Notre Data Cola Company, a start-up beverage company specializing in producing soda from date syrup mixed with various tropical fruit juices, also opened exploratory talks with the US Fed Group, which expressed great interest in the former?s project concept, they said.
The US Fed Group develops and supports US private-public partnerships, economic development and provides financing for the export of various goods and services, including commodities.
Puyat and Agbon said that both companies were studying the possibility of establishing an $878,000 beverage plant in General Santos City to cover processes involving the concentration, pureeing and bottling of the beverages.
Meanwhile, Intervision Foods, an American exporter of frozen poultry, pork, beef and fish products (animal proteins) to almost all regions of the world, discussed with RFM Corp., one of the Philippines? leading agri-food companies, the delivery by the latter of the first container shipment of poultry and beef products to the US by early next year, they said.
At the business matching session in Davao, remote-sensing technology provider Agri-Ima GIS Technology discussed with Unifruitti Group of Companies a possible $20 million project involving the use of the former?s technology to achieve precision farming through the efficient management of agricultural fertilization.
