MARKET DEVELOPMENT
A Brown Investing P3b in Oil Palm Estate
A Brown Investing P3b in Oil Palm Estate
13/02/2014 (Manila Standard Today) - A unit of A Brown Group is investing P3 billion to establish a 1,400-hectare oil palm plantation in Cagayan de Oro City.
A Brown Energy and Resources Development Inc. on Wednesday signed a memorandum of understanding with the city government of Cagayan de Oro led by Mayor Oscar Moreno during an event at Intercontinental Hotel Manila in Makati City.
A Brown Company Inc. chairman Walter Brown said his company was slowly diversifying into agro-industrial business, especially in the area of palm oil production.
“This is just the planning stage, but we are already in partnership with the city government of CDO for the project. They will provide us the land, we provide them the expertise,” Brown told reporters at the sidelines of the Connect and Do Business Cagayan de Oro Forum.
Moreno said the agreement between Cagayan de Oro and A Brown was a clear example of public-private sector partnership.
Cagayan de Oro recently opened up at least 5,000 hectares of raw land for development by interested investors.
Brown said the output from the CDO plantation would complement two existing plantations in Bukidnon province with combined 1,600 hectares.
Brown said Energy and Resources currently sells crude palm oil to local refiners and feed millers.
A Brown director and president Robertino Pizarro said the company’s existing crude palm oil refinery in Bukidnon could process 10 metric tons of crude palm oil an hour.
“By yearend, we will have our own refinery that will convert crude palm oil into refined palm oil which is already good for cooking,” he said.
Pizarro said the company planned to expand the capacity of the crude palm oil mill to 25 tons an hour.
All refined palm oil output will be made available for local consumption, the company said.
A Brown Energy and Resources Development Inc. on Wednesday signed a memorandum of understanding with the city government of Cagayan de Oro led by Mayor Oscar Moreno during an event at Intercontinental Hotel Manila in Makati City.
A Brown Company Inc. chairman Walter Brown said his company was slowly diversifying into agro-industrial business, especially in the area of palm oil production.
“This is just the planning stage, but we are already in partnership with the city government of CDO for the project. They will provide us the land, we provide them the expertise,” Brown told reporters at the sidelines of the Connect and Do Business Cagayan de Oro Forum.
Moreno said the agreement between Cagayan de Oro and A Brown was a clear example of public-private sector partnership.
Cagayan de Oro recently opened up at least 5,000 hectares of raw land for development by interested investors.
Brown said the output from the CDO plantation would complement two existing plantations in Bukidnon province with combined 1,600 hectares.
Brown said Energy and Resources currently sells crude palm oil to local refiners and feed millers.
A Brown director and president Robertino Pizarro said the company’s existing crude palm oil refinery in Bukidnon could process 10 metric tons of crude palm oil an hour.
“By yearend, we will have our own refinery that will convert crude palm oil into refined palm oil which is already good for cooking,” he said.
Pizarro said the company planned to expand the capacity of the crude palm oil mill to 25 tons an hour.
All refined palm oil output will be made available for local consumption, the company said.