11:28 | 22/03/2016 Economy
Vietnam Soya Products Company (Vinasoy) began construction on its third plant in the Vietnam-Singapore Industrial Park (VSIP 2A) in the southern province of Binh Duong on March 18 to meet increasing demand in the domestic market and its export expansion target.
Vinasoy began construction on March 18 (Photo: VNA)
Covering an area of 8.5 hectares, the plant has a total investment of 900 billion VND (40.5 million USD). It is scheduled to be completed and put into operation later this year, with an annual capacity of 180 million litres of soymilk.
Ngo Van Tu, CEO of Vinasoy, said once becoming operational, the plant will contribute to shortening time and distance for transporting the company’s products to southern localities.
Vice Chairman of the provincial People’s Committee Tran Thanh Liem affirmed that the new project matches the locality’s economic development orientation.
Vinasoy is the largest soymilk producer in the country at present, accounting for over 84.2 percent of the market share.
It now operates two manufacturing plants in central Quang Ngai and northern Bac Ninh provinces, bringing in annual revenue of 3.8 trillion VND (171 million USD)./.