14:42 | 18/01/2017 Economy
Tin Nghia Coffee JSC started construction for its soluble coffee manufacturing factory in Hiep Phuoc Commune, Nhon Trach District, Dong Nai Province on January 16.
Covering an area of 5.4ha in Nhon Trach 3 Industrial Zone, the factory will have a capacity of 3,200 tonnes per year in its first stage, with a total investment of about US$28 million. The facility is equipped with advanced and environmentally friendly technologies.
The plant is expected to be put into operation by early 2018. Its products will mostly be exported to North America, Europe and several countries in the Asia-Pacific.
According to the Vietnam Coffee and Cocoa Association, although Vietnam is the world’s largest exporter of Robusta coffee, with an annual export turnover of US$3-3.2 billion, nearly 90% of Vietnam’s coffee exports to foreign countries are in the form of unprocessed, unbranded and low value coffee.
Therefore, the establishment of soluble coffee factories is seen as a way to improve competitiveness for Vietnamese coffee with the aim of enhancing export value and sustainable development.
At the ground-breaking ceremony, Dong Nai’s leaders granted an investment certificate to Tin Nghia Coffee Company, with a charter capital of VND200 billion (US$8.8 million).
Also at the event, Tin Nghia presented VND100 million to Nhon Trach District’s Fund for the Disadvantaged.
Last year, Tin Nghia exported nearly 129,000 tonnes of coffee, generating a turnover of over US$220 million.