Irradiation Solutions Inc. (ISI), a unit of publicly listed firm A Brown Co. Inc., has secured funding of P400 million for the country’s first commercial irradiation services facility.
ISI obtained the funds from China Banking Corp. which will phase the drawdown over the length of the construction period.
Fund proceeds will partially finance the construction of the Tanay, Rizal facility and the procurement of an electron beam accelerator and auxiliary system from Radtech Vietnam Co. Ltd.
The facility is designed to irradiate as much as 20,000 tons of food and sterilize medical masks, dressings, syringes, surgical staplers and other applications for single-use medical devices a year.
Aside from medical use, the e-beam and cold storage facility will provide contract irradiation services that improves the quality of agricultural and fishery products, enable local products, fruits, and seafood to be of export quality and gain wider access to international markets, said ISI President Paul B. Juat.
The Board of Investments recently awarded the project pioneering status as allowed under Republic Act 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.
Construction started in April last year and commercial operations were to commence by the third quarter this year.
As the facility opens, products for irradiation treatment are seen to scale up as customers get accustomed to the availability of the service.
