India’s Indus Coffee plans $80 mln investment in central Vietnam province
India-based Indus Coffee, under Singapore-headquartered Food Empire Holdings Limited, plans to invest $80 million in building an instant coffee factory in the central coastal province of Binh Dinh.
A delegation of Food Empire Holdings, led by vice chairman Amrish Rungta, outlined the plan to Binh Dinh authorities on Friday. He said the firm planned to build an eight-hectare factory and export its products.
Rungta asked provincial authorities to help with finding suitable locations, completing administrative procedures and ensuring electricity supply for the project.
Binh Dinh Chairman Pham Anh Tuan (left) and Food Empire Holdings vice chairman Amrish Rungta (second left) meet in Binh Dinh province, central Vietnam, June 14, 2024. Photo courtesy of Binh Dinh news portal.
Binh Dinh Chairman Pham Anh Tuan assured the investor that the province would facilitate the project in line its focus on attracting and promoting hi-tech, eco-friendly projects.
He also emphasized Binh Dinh’s investment advantages including prime locations with proximity to seaports, airports and railways stations. He recommended Becamex VSIP Binh Dinh industrial park a modern facility that can accommodate the proposed investment.
So far, Binh Dinh province has attracted 15 foreign direct investment (FDI) projects from Singapore with the total registered capital of $163.2 million. Binh Dinh’s index of industrial production (IIP) rose 4.73% year-on-year in May and 9.59% in January-May, according to provincial data.
Howoever, the province made no contribution as registered FDI in Vietnam reached $11.07 billion in the year to May 20, up 2% year-on-year, according to the Ministry of Planning and Investment.
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