MANILA, Philippines
An Indonesian company is investing $80 million to expand manufacturing and processing of Kopiko coffee in the Philippines.
Mayora Indah Tbk, the parent company behind Kopiko coffee, has signed a memorandum of understanding with Lima Land Inc.to lease property in Malvar, Batangas in order to construct a new facility, according to The Philippine Star website philstar.com.
“In recognition of Kopiko’s strong Philippine base, along with our growing business in the ASEAN (Association of Southeast Asian Nations) region, we are expanding our manufacturing and processing operations beyond Indonesia – into the Philippines,” Mayora president Andre Atmadja said in a statement.
The facility will employ 200 people to start and with plans to grow to 3,000 employees over five years.
The manufacturing and processing plant is intended to help meet the growing demand for coffee both the company’s domestic and international markets.
“We look forward to the many opportunities that this landmark project will deliver, particularly in the area of job creation and in enabling greater contribution to the Philippine economy,” Atmadja said.