10:14 | 14/07/2015 Investment
The Vietnamese dairy firm TH True Milk is interested in expanding its business in Russia by investing 2.5 billion USD in a project on dairy cow breeding and processing of dairy products.
Dairy farm of TH True Milk in Nghia Dan district, central Nghe An province (Photo: VNA)
The initiative was announced at a working session on July 6 between Governor of Moscow province Andrey Vorobiov, Vietnamese Ambassador Nguyen Thanh Son and TH True Milk Chairwoman Thai Huong.
Accordingly, about 200,000 milk cows will be raised on an area of 80,000 hectares.
At the meeting, Ambassador Son showed confidence that the TH True Milk project will be successfully implemented in Moscow province and its products will meet the strict standards of the Russian market and be able to compete with dairy products imported from other countries.
Governor Vorobov appreciated Vietnam’s investment and said that agricultural development including the diary industry has enjoyed incentives and support from the Russian government.
He pledged to create a niche for TH True Milk to carry out the project.
The project will be pided into three phases. After completing legal procedures and necessary preparations, the first phase is expected to kick off in late next year.
TH True Milk, a pioneer in promoting clean dairy products in Vietnam, recently broke a record in the India-based Asian Record Organisation to become the top Asian large-scale and high-tech dairy farm.
With a total investment of 1.2 billion USD, the company’s highly automated farm project in Nghia Dan district, central Nghe An province was opened in 2009./.