Minnetonka, Minnesota, U.S.A.-based animal nutrition producer Cargill is investing USD 305 million (EUR 269 million) into its operations in the Philippines and Thailand, it announced on 30 November.
Cargill plans to invest USD 235 million (EUR 207.3 million) into its animal feed and nutrition unit and agricultural supply chain businesses in the Philippines over the next two years. The company will also invest USD 70 million (EUR 61.8 million) into its Thai poultry and aquafeed operations over the next two years, according to FoodBev Media.
Cargill’s Thai investment includes a planned upgrade to its aquafeed production plant located in Petchaburi, as well as additional funds for its Technology Application Center, which it opened in June 2018. The center conducts research and development for the aquaculture industry and is the hub for the six TACs the company operates in South Asia.
“Aquaculture in Asia continues to grow at a rapid pace to meet increasing global demand for fish, shrimp and other seafood,” Chad Gauger, managing director of Cargill Aqua Nutrition in South Asia, said. “Thailand was a natural choice for us to set up our Technology Application Center hub in South Asia. The country is the regional hub from shrimp in the region and has a strong talent pool in aquaculture nutrition.”
Cargill has operated in Thailand for 50 years and has invested more than USD 1.15 billion (EUR 1.01 billion) over that time frame. It currently operates 14 facilities and hasmore than 17,000 employees in Thailand.
Photo courtesy of Cargill
