U.S. Ambassador to the Philippines MaryKay Carlson congratulated global infrastructure investor I Squared on its strategic acquisition of Royale Cold Storage (RCS), the leading cold chain operator in the Philippines.
The investment includes a significant 1.5-hectare expansion of RCS’s facility in Plaridel, Bulacan, a key location within the Luzon Economic Corridor (LEC). This strategic move is poised to create valuable local jobs and dramatically improve cold chain logistics, which is crucial for enhancing food security across the archipelago.
“This investment by I Squared is a perfect example of how American expertise and capital can drive economic opportunity and directly improve lives here in the Philippines,” said Ambassador Carlson. “By strengthening the cold storage infrastructure, we’re not just creating valuable local jobs; we’re ensuring that fresh food reaches Filipino families more efficiently. It underscores the durable U.S.-Philippines alliance and our shared goal of sustainable, inclusive growth within the Luzon Economic Corridor and across the entire nation.”
Long-Term Commitment to Philippine Infrastructure
Miami-based I Squared is a major global infrastructure investor with a robust, long-term commitment to the Philippines. The firm has already committed over Php 110 billion (approximately $2 billion) to the country across key strategic sectors, including logistics, energy, and information and communications technology (ICT).
The integration of Royale Cold Storage into I Squared’s portfolio is a calculated step to modernize the Philippines’ essential infrastructure, particularly the cold chain, which is vital for preserving perishable goods and reducing post-harvest losses.
“The acquisition of Royale Cold Storage aligns perfectly with our mandate of investing in critical infrastructure that supports essential services and economic resilience,” said Gautam Bhandari, Managing Partner and Chief Investment Officer at I Squared. “The Philippines is a high-growth market, and strengthening its cold chain capacity is essential for modernizing its logistics sector and supporting its dynamic agricultural economy. This expansion in Bulacan, a cornerstone of the Luzon Economic Corridor, demonstrates our dedication to long-term partnership and shared prosperity.”
Driving Growth in the Luzon Economic Corridor
The facility expansion in Plaridel, Bulacan, directly supports the development goals of the LEC, a priority area under the U.S.-Philippines partnership aimed at accelerating economic activity between Subic, Clark, and Metro Manila. Robust investments in cold chain infrastructure are critical to realizing the Corridor’s full economic potential by enabling more efficient trade and distribution.
The U.S. government remains strongly committed to collaborating with the Philippines to promote resilient, sustainable, and inclusive economic growth through targeted investments in critical infrastructure.
