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I Squared Capital broke ground on a US$130-million, 1.5-hectare expansion of Royale Cold Storage in Plaridel, Bulacan
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The project is part of the firm’s US$2-billion investment commitment in the Philippines
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It will be adjacent to the existing five-hectare complex, expanding national cold-chain capacity
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It will add 22,000 pallet positions, equivalent to 15,000 square meters of cold storage capacity, outfitted with energy-efficient systems and digital monitoring technology
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RCS offers cold chain logistics, including warehousing, storage, and blast freezing, for food industries across Luzon, serving areas like Rizal, Bulacan, Laguna, and Pangasinan
Global infrastructure investor I Squared Capital broke ground on a US$130-million, 1.5-hectare expansion of Royale Cold Storage (RCS) in Plaridel, Bulacan on October 24.
The project is part of the US$2-billion investment commitment to the Philippines of I Squared, which acquired a controlling stake of RCS in June 2025.
The new facility, adjacent to RCS’s existing five-hectare site in Plaridel, will add 22,000 pallet positions, equivalent to 15,000 square meters of cold storage capacity.
Outfitted with energy-efficient systems and digital monitoring technology, it is designed to serve a range of industries, including agriculture, fisheries, retail, and quick-service restaurants.
RCS is part of the investment portfolio of Florida-based infrastructure firm I Squared Capital, which has already invested over US$1 billion in the Philippines across energy, transport, logistics, and digital infrastructure.
The expansion will create over 300 new jobs, bringing RCS’s workforce to more than 1,800.
Scheduled for completion by the end of 2026, the facility is expected to reduce post-harvest losses, enhance food distribution efficiency, and improve access to safe, affordable perishables for communities across Central Luzon and Metro Manila.
RCS operates five warehouses located in Marilao and Plaridel, Bulacan; Taytay, Rizal; Cabuyao, Laguna; and Villasis, Pangasinan, serving clients across the food, retail, and agribusiness sectors.
According to Harsh Agarwal, senior partner at I Squared Capital, the project involves approximately $30 million for the first phase and an additional $100 million for subsequent phases.
Once completed, it will help reduce post-harvest losses, improve food distribution efficiency, and ensure safer, “more affordable access to perishable goods for Filipino families,” according to I Squared Capital.
RCS chief executive officer Ferdinand Tongson said the investment is part of I Squared Capital’s broader $2-billion commitment to the Philippines, with $1 billion already deployed across key infrastructure projects and another $1 billion set aside for expansion.
Tongson said the company is eyeing expansion beyond Luzon, identifying Cagayan de Oro and Davao as key growth areas in the Visayas and Mindanao. He noted that these regions offer significant opportunities given the limited availability of cold storage infrastructure.
In a message delivered by special assistant to the President for Investment and Economic Affairs Frederick Go, President Ferdinand Marcos Jr. welcomed the development and emphasized the importance of I Squared’s investment in strengthening the country’s cold-chain network.
“With its new ownership under I Squared Capital, we are building a nationwide cold storage platform designed to secure our food supply and modernize our logistics chain,” Marcos said.
Marcos underscored the role of modern cold storage facilities in reducing post-harvest losses and improving food accessibility.
“I believe this initiative is an important step in our fight against hunger and wastage. This modernization will also support our steps towards sustainability. When we reduce post-harvest losses, more food becomes available for consumption,” the President said.
For his part, Go said I Squared’s projects align with the administration’s goal of attracting foreign direct investments and modernizing key infrastructure sectors.
“I Squared’s continued investments reflect the success of the administration’s efforts to build a more competitive, investor-friendly economy. This partnership is a testament to the strong confidence in the Philippines as a premier hub for infrastructure, growth, and innovation,” Go said.
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