Section

French firm eyes investment in Clark Food Hub

By Manila Times - 6 months ago

THE company behind the Rungis International Market in France is interested in investing in the P8.5-billion National Food Hub project in Clark, Pampanga, a top official of the Clark International Airport Corp. (CIAC) said.

CIAC President Arrey Perez said they met with representatives of Semmaris, the company managing and organizing the commercial activities of Rungis, as part of the two-week Market Sensing and Observation Mission to France."CIAC's food hub project earned their interest, which ascertains Clark's viability for this project and its overall marketability. Hearing it from the point-of-view of the world's best is truly encouraging," Perez said."We're looking forward to consummating any level of partnership with Rungis, or any form of cooperation with them in the agriculture and agrifood business for Clark," he added.Located in the south of Paris, Rungis International Market is tagged as one of the world's largest fresh markets with an area covering 234 hectares. It also provides almost 18 million people daily with fresh seafood, meat, fruits and vegetables, dairy products, gourmet food, and horticultural and decorative items.According to Semmaris, the market attracts more than 26,000 regular buyers, including greengrocers, restaurant owners and market sellers.In 2022, Rungis generated over 10 billion euros ($10.8 billion) from over 3 million tons of goods moved through the market. The amount is equivalent to 0.4 percent of France's gross domestic product.The CIAC chief earlier said that the feasibility study for the Clark National Food Hub, conducted by the Public-Private Partnership (PPP) Center and the Asian Development Bank, is expected to be completed by the end of this year followed by the public tender, which will be conducted by the first quarter of 2025.Perez added the project aims to be awarded in 2025 using the PPP model of design-finance-build-operate-maintain."We are set on modernizing agro-logistics, raising the standards of food safety and providing better opportunities for the farmers, fishermen and growers through the National Food Hub," he added.The two-week market sensing also included meetings with the D'appui Au Financement des Infrastructures, a company facilitating public infrastructure projects financing, and the Le Pôle Agriculture et Agroalimentaire or Medef International, an international trade and development entity serving developing countries.The Philippine delegation of the Market Sensing and Observation Mission was led by the Undersecretaries Mary Jean Pacheco from the Department of Trade and Industry Regional Operations Group and Cheryl Marie Natividad-Caballero for the Department of Agriculture High-Value Crops Program.The CIAC Market Sensing Team, meanwhile, included CIAC Directors Dante Ang 2nd, also the president and chief executive officer of The Manila Times, and Monico Puentevella Jr., CIAC Chief Strategy Officer and Urban Planner Melissa Feliciano.

Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.