A Philippine-Japan joint venture company is keen on investing in the planned Bangus Processing Plant in Dagupan City.
Mayor Benjamin S. Lim, in a meeting with local media, said Phil-Nippon has visited the city twice and has expressed interest in the processing plant project in Bonuan Binloc, to be located near the Bureau of Fisheries and Aquatic Resources (BFAR).
“We will just provide  the land and the investor will infuse capital for the site development and the fish processing  equip-ment,” Lim said.
Lim revealed that originally, the city was banking on the national government’s promise to extend a P50 million financial support  as the government’s share in the project for the site development and the plant’s operations.
The total cost of the plant is P150 million to include building construction and processing machine.
In the arrangement with the investor, the city will have a one-third equity in the  total investments for the processing plant, Lim said.
The bangus processing plant has reportedly attracted many interested investors because of the abundance of fish produce  not only in other  coastal towns in  Dagupan but also in Pangasinan and La Union.
As envisioned, the plant will have capacity to  produce 10-20 metric tons a day of value added bangus products which will command higher price in the international market, the Mayor said.
The plant is planned to be erected on an accreted land in Bonuan Binloc near BFAR.
But as this developed, the city mayor’s office claims that a technical team created by the City Mayor uncovered a move by a certain politician who allegedly called the Department of Environment and Natural Resources (DENR) to stop the processing of the Miscellaneous Lease Agreement (MLA) that will finalize the official turn-over of  the property to the city government.

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