Conglomerate Metro Pacific Investments Corp. , through its wholly-owned subsidiary, Metro Pacific Agro Ventures Inc. , has teamed up with the LR Group of Israel to expand MPAV’s existing dairy business.
This partnership will break ground on the construction of a farm facility in Bay, Laguna, where it plans to annually produce at least 6 million liters of milk. The construction of the facility will start in 2023 and take approximately two years to finish. Operations are estimated to commence by late 2025 to early 2026.
The conglomerate noted that the transaction presents a “significant growth opportunity for MPIC and the Philippines,” as the country currently imports 99 percent of its annual dairy requirements. The conglomerate announced that it will ramp up investments in the agricultural sector and reduce the country’s dependence on food imports amid ongoing global supply chain disruptions and high inflation.