Metro Pac, LR Group to build P2-B modern dairy farm in Laguna
BAY, Laguna—Manuel V. Pangilinan-led Metro Pacific Investments Corp. formed a P2-billion venture with Israel’s LR Group to help modernize the country’s dairy industry.
Metro Pacific, through wholly-owned subsidiary Metro Pacific Agro Ventures Inc., and LR Group held a ceremonial ground breaking for a “high-tech” dairy farm in Bay, Laguna that will produce at least six million liters of milk per year once it becomes operational by early 2026.
“We have set to build and deliver a modern dairy facility right here in Bay, Laguna called Metro Pacific Dairy Farms,” said Metro Pacific Agro Ventures CEO Joan Victor “Jovy” Hernandez on Thursday.
He said Metro Pacific Dairy Farms, which will be 60 percent owned by Metro Pacific and 40 percent owned by the LR Group, will rise on a 20-hectare property.
The modern and integrated dairy facility aims to have 600 milking cows with each cow carrying high-tech sensors to monitor their health and activity to ensure the production of high-quality milk.
“Our investment in agriculture is synonymous to food security and substantial independence but will ultimately become a means of alleviating hunger in our country – a pressing issue that we have taken as a challenge to address,” Metro Pacific chair and CEO Manuel V. Pangilinan said in a separate statement.
“Our goal is and always will be to feed our people first,” he said.
The partnership joins Metro Pacific, one of the country’s biggest infrastructure conglomerates with investments in energy, water services, and tollroads, and LR Group, whose businesses span agriculture, construction, renewable energy and water treatment.
“I think we are coming at the right time in the country and mostly with the right partner because without Metro Pacific we would not be investing in the country. In his project, we are not only providing the technology but were are also almost a 50-50 investor,” LR Group co-founder and CEO Ami Lustig said during the event.
Metro Pacific previously signaled plans to ramp up investments in agriculture to reduce the country’s dependence on food imports. It earlier said roughly 99 percent of the country’s milk supply is imported.
Last June, Metro Pacific sealed a P198-million deal to take control of the 15-year-old ice cream and dairy businesses of Carmen’s Best Group, led by Francisco “Paco” Delgado Magsaysay, the grandson of former president Ramon Magsaysay.
Metro Pacific bought a 51-percent stake in the venture while the Magsaysay family will continue to own 49 percent. The LR Group also served as technical advisers for the acquisition of Carmen’s Best, the company said.
