THE BOARD of Investments said (BOI) Tuesday that it has approved the registration of the P22 million sugar processing project of Forever Nutriliving Corporation in Sagay town, Negros Occidental.
“This is one of the tracks we are taking to further develop Philippine industries and achieve our export goals. Investments in agricultural products with added value, such as the outputs of the proposed sugar processing plant in Sagay, will enhance the competitiveness and marketability of our products,” Traded Undersecretary and BOI managing head Adrian Cristobal Jr. said in a statement.
The BOI said Forever Nutriliving’s processing plant will produce and manufacture antioxidants and soft sugar, 70 percent of which will be exported.
“This project will also help address the sugar needs of local industries and provide more jobs for our sugar farmers in Negros,” Cristobal added.
The company will produce 32,400 kgs of antioxidants and 7,020 tons of soft sugar per year.
Forever Nurtiliving will source its raw materials from the Sagay Central sugar mill.
Extracted from cane syrup, antioxidants are used as food additives to counter food deterioration, as medication for various forms of brain injury, and as stabilizers in fuel, lubricants, and gasoline to prevent oxidation and fetid residues.
Soft sugar, on the other hand, is a partially-refined sugar product with distinctive brown color, and is used for culinary purposes.
Based on industry data, Philippine sugar exports increased to $354 million in 2011 from $37 million in 2010. (GMA News)