Lao family’s D&L allots P8B for new plants in Batangas
D&L Industries Inc. is setting aside P8 billion for the construction of new plants in Tanauan, Batangas as part of its expansion program aimed at further growing its exports business.
In a statement, D&L said it was building two manufacturing facilities for food ingredients under D&L Premium Foods Corp. and oleochemicals under Natura Aero-Pack Industries on a 26-hectare property in First Industrial Township.
Natura’s facilities will be dedicated for the manufacture of coconut oil fractions, coconut-based surfactants, and downstream packaging for consumer products which are sustainable, naturally-derived, mild and non-irritant.
Phase one involves the construction of more than 50 tanks (which can be as large as 2,000 cubic meters) for the two plants.
The two projects will be financed by a combination of debt (70 percent) and internally generated cash (30 percent).
This initiative will position the company for the next 20 years of growth, as part of the group’s strategic direction to grow its exports while focusing on higher value and higher margin products.
The project is expected to generate about 700 new jobs, with construction and commissioning to be completed by 2021.