09:56 | 21/10/2016 Companies
TH True Milk, Viet Nam's large dairy group, on October 18 began developing its second complex for feeding cows and processing milk in Kaluga Province, Russia.
TH True Milk products - Photo thmilk.vn
This was reported by a Vietnam News Agency correspondent in Russia.
Speaking at the ground-breaking ceremony, TH True Milk Chairwoman Thai Huong expressed gratitude to the Russian government and Kaluga Province's authorities, who had actively supported and created favourable conditions for this project.
She promised that the project would use Israel's high technology for feeding cows and to train local labour.
Huong hoped that the project will become a global leading complex for feeding cows and processing milk in scale and quality of products.
In Kaluga, TH True Milk will have nine farms with nearly 100,000 cows in total, including 45,000 units of milk cow, she said. Under the plan, the first milk products from the project would reach customers in October next year. This was the second complex for feeding cows and processing milk on an industrial scale with total investment capital of US$2.7 billion under TH True Milk's 10-year investment strategy in Russia.
Earlier, the group began its first project in Volokolamsk District, Moscow, with total capital of $500 million developed under three stages. The project is expected to have an area of 140,000ha, 350,000 cows in total and total annual capacity of processing milk at 1.8 million tonnes.
The group also plans to establish a distribution system with 300 True Mart units in Russia.
At the ceremony, Governor of Kaluga Anatoly Artamonov said Kaluga has been implementing site clearance so land was available for the project and would also provide support to the project.
Artamonov said the project was important for the Russian market because the country still has a high demand for milk due to lack of supply in the local market.
Success of the project would enable Viet Nam's enterprises to increase investment in Russia and Kalugaregion.
Viet Nam's Ambassador to Russia Nguyen Thanh Son said TH True Milk was the first enterprise of the country to make such a significant investment in Russia and TH True Milk's project would contribute to the promotion of economic co-operation between Russia and Viet Nam./.