Tay Ninh licenses $30 mln food processing factory

Tay Ninh province has licensed Greenfeed Vietnam Corporation to build a food processing factory worth VND700 billion ($30 million) at the Phuoc Dong Industrial Park.

The plant in the southern province, covering 60,000 square meters, will have a designed capacity of 24,000-26,000 tons a year of pork, chicken, fisheries and egg products. The output will serve both domestic and export markets.

The factory is set to begin construction in 2023 and become operational in 2024.

Greenfeed, headquartered in Ho Chi Minh City, has expanded its operations to Laos, Cambodia, and Myanmar. The company’s major products are animal feed, livestock and food.

It is among the top ten animal feed producers in Vietnam in 2021, according to market research firm Vietnam Report. The company secured an investment of $43 million from the IFC, a financial arm of the World Bank, in July last year.

In related news, Masan Group, one of Vietnam’s largest listed conglomerates by market value, got the green light to develop a VND3,500 billion ($150 million) food complex in the Mekong Delta province of Hau Giang.

Southern Vietnam, including the Mekong Delta, is the the nation’s agricultural hub. The delta is Vietnam’s biggest food, fisheries and fruit supplier, accounting for 54% of the country’s rice output, 90% of rice exports, 70% of seafood output and 60% of fruit output.

Tay Ninh is home to Dau Tieng lake, the country's largest reservoir. The southern province is the biggest supplier of sugarcane and potato materials in Vietnam.