MANILA -Pilmico and Gold Coin Group, the integrated agribusiness and food subsidiary of the Aboitiz Group, is on track to complete P2.8 billion worth of feed mill facilities in Asia between this year and early 2024.
The company is expecting to complete the construction of a feed mill facility in Yunnan, China by December this year while the one in Long An, Vietnam is targeted to be finished by April 2024.
Pilmico and Gold Coin Group president and CEO Tristian Aboitiz estimated the investment for the Vietnam plant at $27 million and the China facility at about $24 million.
“Both are on track as far as the construction of both mills are concerned. We’re working towards signing contracts with the general contractors for the construction works at the moment,” said Aboitiz.
Aboitiz explained that the first semester of 2023 would focus on the final design and construction of the planned feed mills while the second half would involve the installation of the necessary equipment.
The livestock feed mill facility in China has a capacity of 150,000 metric tons (MT), which can be expanded up to 270,000 MT.
On the other hand, the livestock feed mill facility in Vietnam has an indicated capacity of 200,000 MT, with a potential expansion of up to 300,000 MT.
Pilmico and Gold Coin Group noted these “big-ticket” projects will meet demand and drive further growth.
Pilmico and Gold Coin Group’s business comprises four divisions: flour, feeds, farms and commodity solutions. It is present in the Asia Pacific region with over 29 facilities in nine countries, including the Philippines. It is one of the largest feeds players in Southeast Asia with an annual capacity of 4.2 million MT.
The Aboitiz’s food group marked the start of its global expansion in 2014 with Pilmico International’s acquisition of a 70 percent equity interest in Pilmico Vietnam Co. Ltd. (PVN), one of the largest aqua feed producers in Vietnam.
The transaction was completed when Pilmico International acquired an additional 15 percent interest in 2017 and the remaining 15 percent in 2019.
The group further expanded its overseas presence with the acquisition of a 75 -percent equity in Gold Coin Management Holdings Pte. Ltd. (GCMH) and its subsidiaries, expanding its animal feed business into 11 countries across the Asia-Pacific region.
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GCMH and its subsidiaries have 22 production facilities in six countries across the region with an installed milling capacity of 3 million MT annually.