The Charoen Pokphand Group, an agriculture conglomerate controlled by the family of Thai billionaire Dhanin Chearavanont, will spend 10.55 billion pesos ($179 million) to breed and raise hogs in the Philippines.
Charoen Pokphand Foods (CPF) Philippines Corp., a unit of Charoen Pokphand Foods, will spend that amount on 20 new breeding projects across the country, the Philippine Board of Investments said.
The company will lease farms to breed parent stock pigs, producing thousands of piglets annually that will be transferred to wean-finish/grow-out farms until they reach market weight.
The project, which will be spread across 11 provinces and create 1,250 jobs, was issued a Green Lane Certification by the nation’s Board of Investment, the first for an agricultural venture since 2023, when the Philippines started speeding up and simplifying permit and licensing for strategic investments.
Each facility will use advanced farm equipment including climate controlled pig buildings, feed silos and automated feeding systems, farrowing pens and crates, gestation pens and both diesel and biogas generators.
Dhanin, who received the Malcolm S. Forbes Lifetime Achievement Award at the Forbes Global CEO Conference in September 2023, is Thailand’s second-richest tycoon with a net worth of $14.7 billion, according to Forbes’ real-time data. Dhanin was Charoen Pokphand chairman for 48 years until he stepped down in 2017. His eldest son, Soopakij, and the youngest, Suphachai, are CP’s chairman and CEO respectively. The company has interests in retail, telecommunications, finance, pharmaceuticals, property, autos and e-commerce.
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