Boosting the strong ties between the Philippines and Israel, two firms from both countries have activated their joint venture (JV) in dairy farming. Know more:
BOOSTING the strong ties between the Philippines and Israel, two firms from both countries have activated their joint venture in dairy farming.
The Manuel V. Pangilinan-led infrastructure-investments company entered into an agreement to acquire a 51-percent interest in The Laguna Creamery Inc., as the latter retains a 49-percent ownership. Under their pact, MPIC will further develop and expand the dairy farm’s operations and Carmen’s Best Group’s manufacturing facilities.
According to him, Israel’s embassy to the Philippines is focused on “nurturing the relations” of both Asian nations, which is vital for their future. Their linkage in the area of innovation and technology is geared toward creating opportunities and introducing new solutions.reported that Israeli cows produced an average yield of 12,010 kilograms in 2018, which is higher than global standards.
The embassy, in partnership with its economic mission, hosted the first meeting between the two parties in March 2022. “If you take a look at the scale of what we have in terms [of, specifically, in the farm, where we have roughly 90 to 100] milking cows…that will be immediately 6 times bigger. So the investment is really quite sizable,” Hernandez told the media during the groundbreaking ceremony. “We’re looking at a 70:30 loan-to-equity ratio. We can get local banks first of all to do that. Then, we’re 60:40 with LR [Group] for the 30 percent equity [investment].
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