Indian investor invests in Davao, Philippines
Department of Trade and Industry (DTI) Davao City director Teololu Pasawa disclosed that an Indian investor who recently visited the city signified interest in the region’s rice bran stocks that are left unprocessed to their fullest.
Pasawa said the investors from India made an ocular of an area that they had identified for a possible site of a coconut oil processing plant and saw the stocks of rice bran in almost all areas that they visited.
Although he did not disclose the names of the Indian investors, he said the rice bran also caught their attention for possible processing of oil and integrated this to their major business prospect of processing coconut oil.
He said he was told by the investor that in their country, rice bran is processed into oil and is marketed internationally because the demand is huge and also because consumers value the health benefits they get from using the rice bran oil (RBO).
Meanwhile, Pasawa said the investors are contemplating to set up the coconut processing plant either in Compostela Valley or in Sta. Cruz, Davao del Sur.