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The Board of Investments (BOI) has approved the application for registration of Metro Pacific Group's P2 billion dairy farm and processing facility in Laguna.

- LOUISE MAUREEN SIMEON

In a statement, the BOI said it cleared the application of Metro Pacific Dairy Farms Inc. (MPDF) as a new local producer of dairy products and plant-based beverages in the country.

This means the project would be entitled to fiscal and non-fiscal incentives.

With an initial cost of over P2 billion, the BOI said the facility would start operations in March next year, helping the country achieve food security and address the rising demand for various dietary options.

The facility will have 1,000 cows and an annual production of 6.5 million liters of raw milk.