Thai firms commit billions in investments
Philippine President Benigno Aquino III (L) and Thai Prime Minister Abhisit Vejjajiva shake hands at government house in Bangkok on May 26, 2011. AP
Following President Benigno Aquino III’s visit to Thailand last month, executives of Charoen Pokphand (CP) Group, Siam Cement (SC) Group and PTT Public Co. Ltd. committed to boost their operations in the Philippines by way of fresh infusions.
In a statement issued Friday, the Department of Trade and Industry noted that CP Foods Plc president and chief executive Adirek Sripratak pledged to invest another P1.45 billion into its existing food and agribusiness operations.
The investment will cover the company’s expansion into shrimp and fish farming and hatchery operations as well as poultry and hog raising. This will be on top of its current aquafeeds production business.
The CP Group also committed to expand its employee base from 200 to 2,000 by next year.
The SC Group, on the other hand, also planned to further increase its $200-million investment in the country. SC Group president and chief executive Kan Trakulhoon said the company would be bringing its dry cement manufacturing technology into the country.
The company would also be producing more value-added products to jack up its revenue stream.
The SC Group owns several companies in the Philippines, including United Pulp and Paper Co. which produces kraft paper, CPAC Mornier Philippines, which manufactures concrete roof tiles and Mariwasa Manufacturing Inc. which makes ceramic tiles and bathroom fixtures.
Kan noted that since the existing Mariwasa plant was already running at full capacity, the SC Group was keen on expanding the facilities to boost output. It was likewise considering putting up a P1-billion box plant to support current operations at United Pulp and Paper.
In connection with the planned box plant, SC Group Paper president Roongrote Rangsiyopash said the company was looking at putting up its own power plant “to support its factories in the Philippines.”
“It is more efficient and cheaper to put up one power plant with a bigger output than to build two power plants with smaller outputs,” Roongrote said.
He broached the possibility of building one big power plant that could feed excess output into the grid. In exchange, the company wanted to draw the same amount of power from another part of the grid. This would be covered by a power-swap agreement.
Trade Secretary Gregory Domingo asked company officials to discuss this possible arrangement with Energy Secretary Jose Rene Almendras.
PTT also expressed interest in expanding its current downstream oil business in the country by participating in oil and gas exploration and by putting up a liquefied natural gas import terminal. The company was also keen on joining the bidding for the Batangas-Manila (BatMan 1) and Bataan-Manila (BatMan 2) natural gas pipeline projects.
The economic managers also secured the commitment of Bumrungrad Hospital to expand its operations beyond the Asian Hospital by way of medical tourism and social health projects.
“The Philippines and Hawaii are locations that are easy sell to medical tourists,” Bumrungrad Hospital corporate chief executive Dennis Brown said.
He committed to look into participating in the renovation and upgrade of the facilities of the Philippine Orthopedic Center and 12 other regional hospitals all over the country.
