Cargill to invest in Subic

Cargill to invest in Subic

SUBIC BAY, Philippines (AFP): United States grain processing
giant Cargill will invest some US$35 million to expand a
distribution center in this northern freeport, the operators of
the freeport said Saturday.

Cargill will use one of Subic's deepwater piers to bring in
vessels carrying huge volumes of soymeal and protein for farmers
and livestock raisers in the region, the Subic Bay authority said
in a statement.

Since January, 1998, Cargill has already been engaged in
processing, storing and distributing grain products in Subic, a
former US naval base that the Philippines is converting to
commercial use.

However the new investment will more than double their
capacity to bring in grain, the Subic Bay authority said.