Gardenia eyes P1B investment in Mindanao
Gardenia Bakeries Philippines is planning to construct its first facility in Mindanao worth P1 billion to take advantage of the growing demand for bread.
ABS-CBN News, quoting Gardenia’s president Simplicio Umali, said the bread company is eyeing Davao City as a possible site for its seventh plant in the country.
Umali sees the bread market in the Philippines growing to P18 billion as people eat more bread than rice.
He expressed confidence the Duterte administration will be able to solve the power problem in Mindanao, which is one of his concerns.