Press Release No. EBB-43-2019
saudi investor eyes mindanao for US$1M charcoal-manufacturing business
15 May 2019 – A Saudi investor has expressed keen interest to invest in a charcoal-manufacturing business in the Philippines. The Philippine Consulate General in Jeddah reported this positive news to the Department after Vice-Consul Alfred Kristoffer Guiang and PH Agriculture Attaché for Middle East Mr. Gil Herico met on 14 May with Engr. Ahmed Kouther who bared his plans of setting up a charcoal manufacturing plant in Mindanao on the last quarter of this year.
According to Engineer Kouther, he became interested in the coconut shell charcoal industry after attending a presentation on the coconut industry during the Department of Trade and Industry-led PH business mission in Jeddah in February this year.
“The demand for charcoal in Saudi Arabia is huge, while supply of charcoal is low in the Middle East and African region,” said Engr. Kouther. “This makes the Philippines a promising investment partner because of the abundance of coconuts in the country,” he added.
The Philippines is among the top three (3) producers of coconut and coconut products in the world. The abundance of coconuts in the county, coupled with its tropical weather, makes it ideal for coconut plantations and as a location for coco-charcoal manufacturing business.
Engr. Kouther is the President of Fire Horse Company -Jeddah. He visited Davao in March this year and met with local manufacturers of coco shell charcoals, activated carbon, and other coconut products. He was assisted during his PH visit by Agriculture Attaché Herico who said that the business is soon to gain ground after the positive meetings undertaken by Engr. Kouther with Filipino coconut producers and suppliers.
Engr. Kouther will be flying back to the Philippines on the third quarter of this year to finalize his charcoal investment project, which he said will be able generate jobs for the local people. -END-
Engr. Ahmed Kouther (leftmost) with PH Agriculture Attache for Middle East Mr. Gil Herico (2nd from left) and Vice-Consul
Alfred Kristoffer Guiang (3rd from left) as they discuss during a dinner-meeting eyed investment project by Engr. Kouther in PH.
