US$47.1-M processing plant up soon in Davao Sur

STA. CRUZ, Davao del Sur (PNA) — The CJ Toyota Philippines, Inc. is putting up a processing plant in Barangay Darong, Sta. Cruz, here with an estimated cost of 47.1 million U.S. dollars for the production of xylose, a natural sweetener derived from coconut shells.The company said the product is mainly produced as raw material for xylitol which is known to be one of the major functional sweeteners used in the production of gum. It has the capacity to produce 15,000 metric tons of xylose per year.

The produce will be exported to various markets in Korea, Japan, and Europe. The project is expected to finish by January 2011.

Davao del Sur Governor Douglas Cagas, in his message during the recent ground breaking ceremony, said the investment of CJ Toyota Philippines, Inc. in Sta. Cruz town is a welcome development for the entire province of Davao del Sur, saying that they need more income for their people, more jobs and more utilization of their resources.

Korean Ambassador Choi Joong Kyung was also present during the event.

“I have always believed that the best possible partnership between Filipinos and Koreans is in (the agriculture) sector where the Philippines has a big potential. The combination produced by Korea’s technical artistry with the Philippines’ natural environment and skilled manpower will produce pioneering results,” Choi said.

CJ TPI is made up of four partner companies which CJ President Kim Jin Soo tagged as a “dream team”.

CJ Cheiljedang Corporation, Toyota Tsusho Corporation, Binggrae Co., Ltd., and the Anflo Management and Investment Corporation (ANFLOCOR), the only local company among the four.

“I’m confident that all the elements [of the four companies] will be put together in one bowl to generate one of the strongest players in this business world,” Kim said.

Also among the dignitaries who graced the ceremonies were Davao del Sur Congressman Marc Cagas and Mayor Joel Ray Lopez.

The executives of the four companies were led by their respective heads Toyota Tsusho Corporation Managing Director Makoto Hyodo, Binggrae President Lee Kun Young, and ANFLOCOR Chairman Don Antonio O. Floirendo Sr.

Sta. Cruz town is the industrial hub of the province where many foreign and local investments operate, among them the San Miguel Brewery plant that is also located in barangay Darong. It is also the site of Franklin Bakers Company, a plant that produces dessicated, processed and value added coconut products for export to the US. (PNA)


2 Responses to US$47.1-M processing plant up soon in Davao Sur

  1. kexter oboh says:

    i like thsi one here..great

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