New flour mill investment from Interflour
13 August 20142 min reading
As an effective milling group especially in the Asian region, Singapore-based Interflour Group prepares to establish a new flour mill in Philippines.
Singapore-based Interflour Group Pte. Ltd. will make an investment of $30 million (roughly P1.3 billion) to put up a new flour milling facility in Zambales, Philippines as part of the company’s expansion program in Southeast Asia.
According to the news from Inquirer.net; in a statement, the Subic Bay Metropolitan Authority (SBMA) disclosed that the new facility, which will be set up at the Subic Bay Gateway Park, was expected to meet the rising demand for flour not only in the Philippines, but also in Southeast Asia. According to the SBMA; the Interflour Group, Subic Bay Gateway Park, and the SBMA have already signed a 50-year lease contract for the construction of the flour mill facility within a 52,852-square-meter lot inside the Subic Bay Gateway Park. Registered under the business name Mabuhay Interflour Mill Inc., the new flour mill is expected to be completed in 24 months.
Once operational, the facility will produce 500 tons of flour a day. It is thought that this amount may be doubled to 1,000 tons by 2019. The Interflour Group is one of the biggest flour milling companies in the world with seven flour mills in Vietnam, Indonesia, Malaysia and Turkey.
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