The PHIVIDEC Industrial Authority signed a 20-year lease agreement with Thai World Group on Friday, 11 April 2025, for a P1.2-billion food processing plant specializing in frozen coconut meat and milk in Tagoloan, Misamis Oriental. The plant, to be built on four hectares within the PHIVIDEC Industrial Estate, aims to produce 78,000 tons of high-quality coconut milk annually, supporting 153,000 coconut farmers in Northern Mindanao. Thai World Group director Borcha Punyatarkorn highlighted that the facility will employ 1,500 workers and require 500,000 coconuts daily, sourcing from regions like Misamis Oriental, Lanao del Norte, Pagadian, and Dipolog. The products will be exported to the US, Europe, and Asia, leveraging PHIVIDEC’s seaport for efficient shipping. The investment includes P770 million for equipment, P200 million for buildings, and P167 million for working capital, signaling strong confidence in the region’s potential as a top global coconut producer.
