Spanish dairy firm eyes 6M Euro investment in RP

April 16, 2010 10:00 pm 

MADRID, April 16 — President Gloria Macapagal Arroyo met Thursday with Grupo Leche Pascual President Tomas Pascual Gomez Cuetera to discuss the planned six million euro investment of one of the biggest dairy companies in Spain.

In the meeting held at the Ritz Hotel here, Pascual presented to President Arroyo his plan to invest in the Philippines.

Pascual's company plans to build a plant that will manufacture long life yogurts(non-refrigerated) and soy products.

Trade Secretary Jesli Lapus said executives of San Miguel Corp. (SMC), Magnolia and Purefoods, who earlier met with Pascual, were impressed with the project.

Lapus said Grupo Leche Pascual is determined to achieve with a local partner the double goal of meeting domestic and regional market demand.

''This is a good investment…part of their marketing educational campaign is to do yogurt feeding in Philippine schools,'' Lapus said.

Considering the nutritive value of yogurt, the feeding program will greatly improve the Filipinos’ eating habits.

Lapus also said that Leche Pascual chose the Philippines for its first Asian venture due to its strategic location.

''The Philippines can be a hub for export,'' he said. (PNA) RMA/OPS/ssc

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