Work to begin on $50 mln pig farms in Nghe An next month
BaF Vietnam Agriculture JSC (BaF Vietnam) will start construction of two pig farms with a total investment of VND1,240 billion ($50 million) in Nghe An province next month.
Ho Le Duc, a BaF Vietnam representative, said the provincial People’s Committee approved investment plans for the two projects in June 2021.
Accordingly, the VND800 billion ($32.24 million) Giai Xuan farm covering an area of 52.07 hectares in Giai Xuan commune, Tan Ky district will have a designed capacity of 5,000 sows and 60,000 pigs per batch.
The VND440 billion ($17.7 million) Tan Hop farm covering 32.56 hectares in the eponymous commune, also in Tan Ky district, will have a capacity of 60,000 pigs per batch.
Construction of both farms, which will have a lifetime of 50 years, are scheduled to be completed in the first quarter of 2023. Duc said his company was currently applying for adjustments to detailed plans and obtain construction permits.
The Giai Xuan project has completed payment of compensation and site clearance, while 50% of this work is done for the farm in Tan Hop.
BaF Vietnam, a subsidiary of the Tan Long Group established in 2017, is listed on the Ho Chi Minh Stock Exchange (HoSE) as BAF. Its strategy is to develop a closed pig farming model called 3F (feed-farm-food). The company targets producing 45,300 sows and over 1.1 million pigs by 2024.
In the first nine months of the year, BAF Vietnam recorded revenues of nearly VND4,890 billion ($197 million), down 46% year-on-year and after-tax profits of more than VND286 billion ($11.53 million), up 17%.
The company’s revenue for the whole year is estimated at VND5,950 billion ($239.8 million), a drop of 43% compared to 2021, while its after-tax profit is expected to hit VND402 billion ($16.2 million), an increase of nearly 25%.
Earlier, the BaF Meat brand launched “vegetarian pork,” made with pigs that are given bran wholly made from plant-based materials and plant-based protein.
The company aims to raise 200,000 “vegetarian pigs” and offer 1.6 million BaF Meat branded products to the market by 2030. Its products are expected to be put on sale at 1,500 Siba Food stores and 15,000 BaF Meat shops across the country.
- Read More
Maersk opens its first bonded warehouse in Vietnam
Denmark's integrated transport and logistics giant A.P. Moller - Maersk (Maersk) on Thursday opened its first bonded warehouse in Vietnam at SLP Park, Nam Dinh Vu Industrial Park in Hai Phong city.
Industries - Thu, October 31, 2024 | 11:44 pm GMT+7
ABBank incurs $14 mln loss in Q3
Hanoi-headquartered An Binh Commercial Joint Stock Bank reported a pre-tax loss of VND343.5 billion ($13.59 million) in the third quarter of this year, while some other private Vietnamese banks posted strong profits.
Banking - Thu, October 31, 2024 | 9:29 pm GMT+7
Vietnam’s emergence as regional manufacturing hub a significant logistics opportunity: SuperPort exec
Southeast Asia’s rise as a vital logistics hub with Vietnam positioned as a key manufacturing center presents a significant business opportunity, says Yap Kwong Weng, CEO of Vietnam SuperPort.
Companies - Thu, October 31, 2024 | 9:01 pm GMT+7
Indonesia steps up support for textile industry
Indonesia’s President Prabowo Subianto held a close-door meeting with several ministers on Tuesday to discuss the current situation of Indonesia's textile industry, particularly focusing on textile giant Sri Rejeki Isman (Sritex).
Southeast Asia - Thu, October 31, 2024 | 6:01 pm GMT+7
Thailand speeds up plans to construct six new airports
Thailand’s Transport Ministry is accelerating development and construction projects on six airports with an aim to become the region's transportation hub.
Southeast Asia - Thu, October 31, 2024 | 6:00 pm GMT+7
Thailand develops eco-friendly seaport model
Thailand is striving to implement environmental protection and social sustainability solutions in developing the country’s major infrastructure projects, such as the development of Phase 3 of Laem Chabang Port, Thailand's only deep-sea port.
Southeast Asia - Thu, October 31, 2024 | 5:58 pm GMT+7
Indonesia intensifies oil palm cultivation to meet biodiesel demand
Indonesia is expanding its oil palm cultivation to increase crude palm oil (CPO) production as a raw material for 50% biodiesel (B50), according to the country’s Ministry of Agriculture.
Southeast Asia - Thu, October 31, 2024 | 5:56 pm GMT+7
Malaysia’s first domestic EV model opens for booking
The Malaysian multinational automotive company Proton's first electric vehicle (EV), the e.MAS 7, is now open for booking.
Southeast Asia - Thu, October 31, 2024 | 5:54 pm GMT+7
Thailand aims to become emerging leader in AI
Thailand is positioning itself as an emerging leader in artificial intelligence (AI) regulation and development, thanks to policies that support an approach that balances technological innovation with ethical considerations and workforce protection.
Southeast Asia - Thu, October 31, 2024 | 5:53 pm GMT+7
Vietnam PM calls for more investment from Qatar’s $475 bln sovereign wealth fund
Vietnamese Prime Minister Pham Minh Chinh has called on the Qatar Investment Authority (QIA), Qatar's sovereign wealth fund with total assets amounting to $475 billion as of 2023, to ramp up its investment in Vietnam.
Industries - Thu, October 31, 2024 | 4:43 pm GMT+7
FPT Retail earns $6.5 mln in Q3 profit, to expand FPT Shop chain
Vietnamese retail major FPT Retail made a profit after tax of VND165 billion ($6.52 million) in the third quarter of this year, while it incurred a loss of VND13 billion ($514,000) in the same period last year.
Companies - Thu, October 31, 2024 | 3:56 pm GMT+7
Germany’s PNE opens rep office for $4.6 bln offshore wind project in central Vietnam
Germany’s PNE AG, a leading developer of renewable energy projects, has shown its determination to proceed with a mega offshore wind power project in central Vietnam by opening a representative office there.
Energy - Thu, October 31, 2024 | 2:43 pm GMT+7
Saudi Arabian energy giant ACWA Power ready to invest $5 bln in Vietnam
Saudi Arabian private energy giant ACWA Power stands ready to invest up to $5 billion in Vietnam, a senior executive said Wednesday.
Industries - Thu, October 31, 2024 | 2:39 pm GMT+7
Effective M&A deal depends on thorough understanding, value addition potential: Kido exec
An effective M&A transaction depends on fully understanding the company being acquired in order to create added value, says Kido Group CEO Tran Le Nguyen.
Companies - Thu, October 31, 2024 | 1:22 pm GMT+7
No budget apartments in Vietnam, chronic supply-demand gap widens
Vietnam saw no supply or transaction of low-cost apartments priced below VND25 million ($988) per square meter in the third quarter, says a real estate report by the Ministry of Construction.
Real Estate - Thu, October 31, 2024 | 1:10 pm GMT+7
Vietnam steel major SMC remains bogged down with difficulties
Steel manufacturer SMC Trading Investment JSC has been actively selling assets to generate cash for debt repayment and maintain operations since the beginning of this year.
Companies - Thu, October 31, 2024 | 10:41 am GMT+7