Pure Foods to invest P2.5 billion into new grains terminal
March 21, 2012 at 12:46
SAN MIGUEL Pure Foods Co., Inc. plans to invest P2.5 billion in a new grains storage facility in Batangas as part of efforts to lower operation costs and boost profits, a disclosure to the local bourse yesterday showed.
“The company is investing in a bulk grains terminal in Mabini, Batangas, close to its flour mills. Because of the terminal’s proximity to seaports, freight costs for the flour and feeds milling operations are expected to significantly decrease,” San Miguel Pure Foods said.
Operations at the new bulk grains terminal is seen to start by the fourth quarter next year while the investment will still be recouped in seven years, the company said.
Read the full article: https://www.bworldonline.com/content.php?section=Corporate&title=Pure-Foods-to-invest-P2.5-billion-into-new-grains-terminal&id=48631
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By: Franz Jonathan G. de la Fuente
Source: Business World, March 19, 2012
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