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Monde Nissin Corp., a leading food and beverage company, is investing P1.2 billion in a new butter coconut biscuit manufacturing plant in Davao City.
The project, recently approved by the Board of Investments , is expected to begin commercial operations in Barangay Ilang, Bunawan.Based on a fact sheet disclosed by the BOI, 46 percent of the investment will be channeled into site preparation and development, 48 percent to acquisition and installation of state-of-the-art machinery and equipment and 6 percent to working capital.
The factory will utilize a largely mechanized process, using advanced automation technology for packaging and finished goods handling, which will necessitate the hiring and training of a local skilled workforce.The new Davao City facility will initially focus on serving the Visayas and Mindanao markets, with plans to expand distribution to Indonesia and other Southeast Asian countries in the future.
The BOI said the project represents a significant boost to the local economy, creating much-needed jobs and stimulating economic activity in the southern regions.
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