Progress Status

Corporate

•Two Philippines corporations incorporated as key operational entities – Plentex Philippines Inc (PPI) and Plentex Realty Inc (PRI)
Highly credentialed Philippine nationals appointed to PPI and PRI Boards and management team established
 

Stage 1 Integrated Agri-Product Plant

Long term lease of plant site (approx. 1.6 hectare) from City of Tacloban signed and ratified by Council on 3 August 2016 (Suhi Lot 1)
Adjoining 4½ hectare block (Suhi Lot 2) purchased by PRI. Large dam (approx 50 million litre capacity) constructed to provide process water and other site development works in progress
Contract signed for purchase of another 1½ hectare block (Suhi Lot 3) adjoining Suhi Lot 2
D. Oehlmann & Associates (DOA) engaged as Project Manager. DOA finalising the design of the coconut processing plant, procurement of equipment and will manage construction
Turn key contracts for rice and cassava plant supply and installation being finalised
Financial model developed by an external consultant for the integrated agri-product plant
 

Stage 2 Fish Farming and Processing

Decommissioned fish hatchery at Villareal (35kms from Suhi Lots 1, 2 and 3) purchased by PRI. Renovation works in progress. Negotiations in progress to purchase adjoining 2 hectare block to facilitate expansion
 

Research and Development

PPI’s high potential Philippine R&D commercialisation projects being advanced – MOUs signed with respect to Halymenia durvillei growing and extraction