15:40 | 13/01/2017 Economy
The Dabaco Vietnam Corporation (DABACO) commenced construction of a plant oil extraction factory capable of handling 1,000 tonnes of soybean per day, at the Tan Chi Industrial Cluster in northern Bac Ninh province’s Tien Du district on January 9.
The factory will be built on an area of six hectares with a total investment of VND1.2 trillion (US$52.8 million), including VND850 billion (US$34.7 million) in fixed assets.
Scheduled to be completed after 14 months of construction, the factory is expected to manufacture and refine over 80 million litres of cooking oil and 270,000 tonnes of soybean residue as ingredients for livestock feed each year.
According to Chairman of the Board of Directors of DABACO Nguyen Nhu So, the building of the oil extraction factory aims to realise the corporation’s strategy of strongly developing the field of high-tech food and agriculture, towards controlling the entire value chain according to the model of 3F: Farm (plant seeds, farm) - Feed (livestock feed) - Food (food processing).
The factory will be located next to the Tan Chi Dabaco Port with an unloading capacity of 2.4 million tonnes of cargo annually, which will make it convenient for the transportation of materials from producing areas to the factory.
Once put into operation, the factory will not only add value to farming products but also create stable jobs and incomes for about 400 direct labourers.