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Employment News

New Chinese Firm to Develop New Plantation in the Philippines

Date Posted: Sep 29, 2010

Hangzhou Wahaha Group Co. Ltd., the largest beverage company in China, is set to invest P1-billion worth of sugar plantation and manufacturing facility in the Philippines as reported by Department of Trade and Industry.

Trade and Industry undersecretary Crisitino L. Panlilio revealed the good news after he met the company owner and Chairman Zong Qing Hou during his recent trip to China.

“They are willing to allocate P1 billion for sugar business alone. Mr. Zong continues to be very bullish and is just waiting for the right partner and our new government to settle down before coming in,” Panlilio said.

According to Panlilio, Zong said that the company is interested in developing 6,000 hectares of land into sugar plantation to produce 300,000 tons of sugar for its beverage business. The 300,000 ton sugar requirement is already 15 percent of the current 2.2 million metric ton annual sugar production in the Philippines.

“We want to give them the right partner – reputable and transparent. So, we want to bring them together with the Escaler of the Sweet Crystal Sugar Mill and the Central Azucarera de Tarlac,” he said.

He said the company could tap some of the idle sugar lands in Pampanga and Tarlac from CARP beneficiaries, who were not able to sustain small scale sugar production.

Aside from agriculture, the Wahaha Group is also interested to invest in the mining sector here.


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