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.