VILLANUEVA, Misamis Oriental (MindaNews/26 March) – The PHIVIDEC Industrial Estate is set to sign a 25-year lease agreement with a global food corporation for the construction of a P339 million factory inside its 3,000-hectare estate in Misamis Oriental.
PHIVIDEC Industrial Estate Administrator and lawyer Joseph Donato Bernedo said the agency will enter into the lease agreement next month with Newly Weds Foods Australia which will build its facility on a one-hectare lot in Barangay Mohon, Tagoloan town.
Bernedo said Newly Weds Foods Australia, which operates similar manufacturing plants across the Asia-Pacific region, specializes in food ingredient blends such as batters, seasonings, and confectionery mixes, and is expected to hire residents from Misamis Oriental.
“This is a significant investment from Australia. We are hoping more companies will take interest in investing in PHIVIDEC,” Bernedo said.
He said Newly Weds Foods is the second firm to set up a factory in the industrial estate. Gardenia Bakeries Philippines had set up a two-hectare manufacturing facility in 2019, capable of producing about 130,000 loaves of bread and buns daily.
Last year, PhilCo Food Processing Inc., a unit of the Thailand-based Thai World Group of Companies, invested P1 billion in a coconut processing plant also at the PHIVIDEC Industrial Estate.
Construction of the factory began in October 2025. Once done, the factory is expected to produce 78,000 tons of ultra-high temperature (UHT) coconut milk annually and frozen coconut meat.
PhilCo is expected to create about 2,500 jobs.
Bernedo said P1.4 billion in revenues was generated in 2025 from at least 60 business firms operating inside the estate.
“Our annual revenues have continuously increased, rising from P1.1 billion in 2023,” he told guests during the 3rd PHIVIDEC Industrial Authority Open House.
Jerome Soldevilla, president of the PHIVIDEC Industries Association, said two power companies—SPI Power Inc. and FDC Misamis Oriental—produce a combined 637 megawatts of electricity for firms operating within the estate.
“These two companies provide readily available electricity for industries here. That is one of our key attractions to business firms looking for areas to set up their facilities,” Soldevilla said. (Froilan Gallardo/ MindaNews)
