The Board of Investments (BOI) approved the P920-million new cold storage plant of One Stop Warehousing Solutions, Inc. (OWSI) in Taguig City.
Registered as preferred activity under the agribusiness and fishery category of the Investment Priorities Plan (IPP), OWSI’s warehouse has a total area of 13,333 square meters and has 9,300 sqm space solely for cold storage.
The facility has annual capacity of up to 3.8 million pallets for cold storage and 4,380 pallets for blast freezing.
OWSI facility will also have 11 forty-foot container bays and 12 small truck bays.
The company targets to provide cold storage facility for trading companies and suppliers of products for hotels, meat traders and processors, distributors of local marine products, as well as multinational food and beverage firms.
OWSI is a unit of Magsaysay Shipping and Logistics. It has been a provider of warehouse management for food and beverage firms in the country. It also operates three container yards nationwide with services such as storage, stripping and stuffing, cargo staging area, other related activities.
Its facility in Taguig is the first cold storage and blast freezing project of OWSI.
It will start its full operation by August this year.
“The project is expected to address the needs of the growing food processing industry in the country. With the government’s renewed focus on agriculture to boost food security, the demand for such facilities will continue to grow,” BOI Managing Head Ceferino Rodolfo said.
For January to April 2017 period, production of processed food was one of the largest investors in manufacturing industry.
About P1.4 billion of investments were poured into this sector for the first four months of the year.