P450M SL Agritech rice seed production plant gets BOI nod
The Board of Investments (BOI) recently approved the P450-million project of SL Agritech Corporation (SLAC) to produce hybrid rice seeds and by-product (palay) under the agriculture/agribusiness and fishery listing of the current Investment Priorities Plan (IPP).
The project, located in Matanao, Davao del Sur, seeks to produce 9 million kilos of hybrid rice seed a year and 1.6 million kilos of palay to be sold to local farmers.
Commercial operations begins this month, with about 7,000 workers.
The company has three hybrid rice and hybrid seed production sites registered with BOI. They are in Sta. Cruz, Laguna; Lupon, Davao Oriental; and Talavera, Nueva Ecija.
Hybrid rice technology is recognized as a key approach in increasing rice productivity in the country.
Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said the project will create more jobs and income opportunities for farmers in Mindanao, specifically in the Davao region.
He also believes that hybrid seeds will maximize the hectarage devoted to rice production.
SL Agritech will use its own parental seeds in its production of SL-8H hybrid rice seed, which has a potential yield of 8 to 18 tons and a record-yield of 17 tons per hectare.
Some countries like Vietnam, Bangladesh, Indonesia, Myanmar and Cambodia have adopted the SL-8H hybrid rice seeds technology.