17:40 | 03/12/2015 Economy
U.S.-based agribusiness Cargill, Inc. has unveiled a plan to add $40 million to expand its operations in Vietnam.
A Cargill plant - (Photo: www.foodingredientsfirst.com)
Cargill will build a new $30 million animal feed mill in the southern province of Binh Duong and a $10 million agreement with Saigon International Terminals Vietnam (SITV) for dedicated grain and oilseeds warehousing facilities in Phu My.
The $30 million new animal feed mill will have a capacity of 260,000 metric tons per year, and will become operational in the first half of 2017, bringing Cargill’s total number of animal nutrition production facilities in Vietnam to 12.
This investment comes at the back of an announcement made by Cargill in October 2015 of the construction of an animal feed mill in the central province of Nghe An which will start operations in the first half of 2016 and a $7 million expansion of its existing animal feed mill in Dong Thap province.
The group has invested 180 million USD to develop its animal feed mills system with a total capacity of 1.3 million tons a year in the country since 1995.
In Vietnam, Cargill currently has 10 animal feed mills that produce compound feed for both livestock and aquatic species, and one facility in Dong Nai which provides premix animal nutrition ingredients to feed manufacturers.
“Vietnam represents a very important market for us globally and presents clear growth opportunities. These new investments and the extension of our school building program only reinforce our commitment to the Vietnamese market and its people,” said Cargill Chairman and CEO David MacLennan./.