Clark airport, FTI sign deal to build P3.6-B food hub – BusinessWorld Online
THE Clark International Airport Corp. (CIAC) said it signed an agreement with state-run Food Terminal, Inc. (FTI) to develop a P3.6-billion food hub.
The project, known as the Bagsakan ng Bayan Mega Food Hub (BBM Food Hub), will rise on a 46-hectare site in Clark with FTI leasing the Clark property for 25 years, CIAC said in a statement on Monday.
The partnership also covers the development, operation, and maintenance of a wholesale food hub, it said
The FTI will begin developing the first 10 hectares of the hub by early next year, it said.
It added that a 40-hectare site will be constructed in Bukidnon to serve Mindanao, while another hub of 30 hectares will rise in Quezon province to support the Southern Tagalog region and Bicol.
CIAC President and Chief Executive Officer Joseph P. Alcazar said the project represents a commitment to strengthening the agriculture logistics value chain.
The hub will serve the Clark Freeport Zone, New Clark City, Metro Manila, as well as the northern and central Luzon, with the potential to access global markets.
The Clark hub is being positioned to offer services like distribution, storage, and the processing of high-value produce for domestic and overseas markets.
The government earmarked P2.1 billion for the project next year. — Beatriz Marie D. Cruz