PhilCo Food Processing, Inc., a subsidiary of Thai World Group of Companies, is investing over PHP1 billion in a coconut processing facility within the Phividec Industrial Estate in Tagoloan, Misamis Oriental, according to the Philippine Economic Zone Authority (PEZA).
PEZA confirmed the project registration and said construction is set to begin in October this year, with commercial operations expected between December 2025 and January 2026.
The plant will produce 78,000 tons of ultra-high temperature coconut milk and frozen coconut meat annually, with exports targeted to Thailand, Europe, and the United States.
Earlier this month, PhilCo director Buncha Punyatanakorn and Phividec Administrator Joseph Donato Bernedo signed a lease agreement for a 39,596-square-meter parcel of land within the estate.
The project is expected to generate around 2,500 jobs and serve as an additional market for coconut farmers in Northern Mindanao and nearby areas.
“The prices of coconut here are reasonable, and there are a lot of suppliers. We already sent our survey team to many places such as Dipolog, Pagadian, Zamboanga del Norte, and Lanao. We contacted some farmers and suppliers already. They just want us to start our factory soon,” Punyatanakorn said.