Fruit processor Antesco to build $16 mln plant in southern Vietnam
An Giang Fruit-Vegetables & Foodstuff JSC (Antesco) has approved the establishment of a wholly owned subsidiary to develop a fruit and vegetable preservation and processing plant in Tay Ninh province.
The project has a planned investment of VND419 billion ($16 million) and an annual capacity of 33,600 tons of finished products.
The subsidiary, Antafood Co., Ltd., will have charter capital of VND130 billion ($4.94 million), according to a resolution approved by Antesco's (HoSE: ANT) board of directors.
Antafood will be headquartered at Hoa Binh Industrial Park in Thu Thua commune, Tay Ninh and focus on fruit and vegetable preservation and processing.
A frozen mango processing line for export at Antesco in Chau Phu commune, An Giang province, southern Vietnam. Photo courtesy of the company.
Nguyen Hoang Minh, who represents Antesco's capital contribution, will also serve as the subsidiary's legal representative and CEO.
Antesco, headquartered in An Giang province, has also decided to suspend the second phase of its Binh Long plant (located at Loc Son Industrial Park in B'Lao commune, Lam Dong province) in order to prioritize resources for the Tay Ninh investment through Antafood.
At its 2026 annual general meeting, chairman Nguyen Ngoc Bao said Antesco aims to sustain annual revenue growth of more than 20% while continuing to pursue its long-term development strategy.
Bao said rising geopolitical tensions were increasing uncertainty in the global economy, prompting the company to diversify its export markets and focus on products tailored to consumers' everyday food needs in high-standard markets, including Europe, the United States and developed Asian economies such as South Korea, China and Japan.
He added that the strategy would require greater investment in market research to keep pace with changing consumer preferences.
Antesco also plans to build a new manufacturing facility during 2025-2026 with an estimated investment of around $20 million. However, the company said preparations for the project have been delayed as local authorities undergo personnel restructuring following the merger of many administrative units.
On the Ho Chi Minh Stock Exchange (HoSE), ANT shares closed Friday at VND26,000 (nearly $1) apiece.
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