Damosa Land secures funding for coconut milk facility

Mindanao-based real estate and agro-industrial developer Damosa Land has secured a multi-million funding from the Thai Coconut Public Company Ltd. (COCOCO) for the development of a coconut milk production facility in Davao del Norte.

- By CATHERINE TALAVERA

In a statement, Damosa Land said the Thai company is investing approximately P740 million (430 million baht) for the state-of-the-art coconut milk production facility at the Anflo Industrial Estate (AIE) in Panabo City, Davao del Norte.

"The project will enhance COCOCO's production capacity to meet the growing global demand for coconut milk while creating significant opportunities for local farmers and businesses to thrive within the region's expanding agro-industrial ecosystem," Damosa Land said.

In line with the collaboration with COCOCO, Damosa Land said they have signed a memorandum of understanding (MOU) for the strategic partnership.

"This partnership directly aligns with our mission to support local industries and stimulate sustainable economic development," Damosa Land president Ricardo Lagdameo said.