iLD Coffee Vietnam has asked Binh Duong province to quicken the allocation of land and installation of power facilities so the firm could begin building its $80-million factory in early 2023.
A company executive made the request at a meeting with Ben Cat town authorities in Binh Duong Thursday.
In August 2021, Dutch firm Louis Dreyfus Company Asia Pte. Ltd. (LDC) and Polish label coffee company Instanta Sp. z o.o. signed an agreement to establish the joint venture iLD Coffee Vietnam, in order to build and operate a freeze-dried instant coffee factory.
The joint venture conducted a groundbreaking ceremony of the plant in Protrade International Tech Park this March. The 40,000-square-meter plant is expected to begin operation in September next year.
Vietnam is the world’s biggest exporter of Robusta coffee, however, mostly in raw format with low value. The factory is expected to enhance the country’s coffee deep processing sector.
Vietnam exported 100,000 tons of coffee worth $240 million in September, down 3% year-on-year in volume but up 11.3% in value, according to the General Statistics Office. In the first nine months of the year, it earned $3.08 billion from exporting 1.35 million tons of coffee, up 37.6% and 13.7% year-on-year, respectively.