$30M Bulacan cold storage expansion breaks ground

The $30 million expansion project of Royale Cold Storage (RCS), a portfolio company of infrastructure investment manager I Squared Capital, officially broke ground in Plaridel, Bulacan, on 24 October 2025, promising to strengthen the country’s cold chain and food logistics systems.

Sadek Wahba, chairman and managing partner of I Squared Capital, said the $30 million is allocated for the first phase of the 1.5-hectare expansion, while the second phase is estimated to cost around $100 million.

The new facility is expected to employ more than 300 Filipino workers, adding to the existing 1,500 across RCS’s five sites nationwide.

Once operational, the Plaridel site, located beside RCS’s existing 5-hectare facility, will significantly increase national cold storage capacity. Officials said this 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 is also expected to generate local employment and stimulate regional economic growth.

The groundbreaking marks a milestone in the Philippines’ readiness to attract high-impact investments that deliver tangible benefits to the population.

The project aligns with I Squared Capital’s long-term commitment to the Philippines and the administration’s Build Better More program, supporting food security, job creation, and inclusive growth.

“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,” said RCS president and CEO Josephine Marie Pangilinan.

Wahba added, “Our growing commitment, over $2 billion across energy, digital, logistics, and food systems, reflects our belief in the Philippines’ potential to lead in sustainable, inclusive growth. Through our partnership with the administration and its Build Better More agenda, we are investing in the foundations of a resilient, future-ready economy.”

In a message read by Special Assistant to the President for Investment and Economic Affairs Frederick Go, President Ferdinand Marcos Jr. said the initiative is a key step in the country’s fight against hunger and wastage.

“This modernization will also support sustainability. Reducing post-harvest losses increases food availability, stabilizes prices, and ensures farmers remain productive,” the message said.

I Squared Capital manages more than $50 billion in assets across energy, utilities, digital infrastructure, transport, and environmental sectors in more than 70 countries. The firm oversees over 90 essential infrastructure businesses globally and has a team of more than 300 professionals across Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney, and Taipei.