As support to its mandate to develop the coconut industry, the United Coconut Planters Bank (UCPB) has approved a Php500 million loan facility to complete the first-of-its-kind integrated coconut processing facility of Roxas Sigma Agriventures, Inc. (RSAI). The processing plant is currently under construction in the Municipality of Tupi, South Cotabato, and designed to process, at full capacity, 300 metric tons per day of mature coconuts.
Once completed by first quarter 2017, the plant will produce high-quality coconut water concentrate, coconut milk/cream and virgin coconut oil, mainly for the export market. This landmark project is expected to provide more than 1,000 jobs, upon full operation, and benefit more than 137,000 coconut farmers within the SOCCSKSARGEN (South Cotabato, Cotabato, Sultan Kudarat, Sarangani and General Santos) region.
Sealing the financial support package are Mr. Jeronimo U. Kilayko – UCPB President and CEO, Mr. Pedro E. Roxas, – RSAI Chairman and President, Ms. Carina C. Uy – UCPB FVP, and Mr. Domingo R. Capistrano – RSAI Chief Operating Officer.
Witnessing this occasion are, Ms. Milagros A. Cruz, AVP II, Relationship Manager, Mr. Santiago R. Elizalde – RSAI Director, Mr. Armando B. Escobar – RSAI/RCI Chief Finance Officer, Mr. JJ Montinola – RCI AVP Business Development, and Mr. Juan Gabriel P. Sison – RSAI VP for Sales and Marketing.
ROXAS SIGMA AGRIVENTURES INC. is a joint venture between Roxas and Company, Inc. (PSE Symbol: RCI) and Sigma Xynergies Corporation.