The $30-million expansion project of Royale Cold Storage (RCS), a portfolio company of one of the world’s leading infrastructure investment managers, I Squared Capital, has officially broken ground in Plaridel, Bulacan, on Friday, with a promise to strengthen the country’s cold chain capabilities and food logistics systems.

Sadek Wahba, chairman and managing partner of I Squared Capital, stated that they have allocated $30 million for the first phase of development of the 1.5-hectare expansion of RCS. In comparison, the second phase is estimated to cost around $100 million.

Further, the new facility would employ more than 300 Filipino workers, adding to the existing 1,500 across all five sites of RCS throughout the country.

Once operational, the new RCS site, located beside its existing 5-hectare site in Plaridel, will dramatically increase national cold storage capacity, which will help reduce post-harvest losses, improve food distribution efficiency, and ensure safer, more affordable access to perishable goods for Filipino families.

Strategically positioned to serve Central Luzon and Metro Manila, the expansion will also generate local employment and stimulate regional economic growth.

More than a construction milestone, the groundbreaking symbolizes the Philippines’ readiness to attract high-impact investments that deliver real benefits to its people.

The RCS expansion is a cornerstone of I Squared Capital’s long-term commitment to the Philippines, aligning with the administration’s Build Better More program and its focus on food security, job creation, and inclusive growth.

The project reflects the growing confidence of international investors in the country’s economic potential and reform agenda.

“This expansion is a game-changer for Philippine food security. Cold storage is essential to reducing waste, stabilizing prices, and ensuring safe, fresh food for every Filipino. With I Squared Capital’s investment, we’re not just building capacity — we’re building resilience and confidence in our food systems,” said RCL president and CEO Josephine Marie Pangilinan.

“The Philippines is emerging as a key player in the global infrastructure landscape. Our growing commitment, over $2 billion across energy, digital, logistics, and food systems, reflects our belief in the country’s potential to lead in sustainable, inclusive growth. Through our partnership with the current administration and its Build Better More agenda, we are investing in the foundations of a resilient, future-ready economy that can serve as a model for the Indo-Pacific and beyond,” Wahba further stressed.