THE Board of Investments (BoI) approved the application for registration of Purefoods Hormel Co. Inc. on February 21 as an expanding producer of processed meat under the preferred activities of the Agribusiness and Fishery sector of the current Investment Priorities Plan (IPP).
The P5.68-billion project qualified for “commercial processing,” which entails the conversion of agricultural and fishery products or wastes to a form ready for further processing or final consumption.
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