Work to begin on $50 mln pig farms in Nghe An next month

By Van Dung, Huong Dung
Sun, November 13, 2022 | 9:09 pm GMT+7

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.

A BaF Vietnam pig farm. Photo courtesy of the company.

A BaF Vietnam pig farm. Photo courtesy of the company.

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.

Comments (0)
  • Read More
Thailand’s WHA greenlighted to invest $55 mln in central Vietnam industrial park

Thailand’s WHA greenlighted to invest $55 mln in central Vietnam industrial park

WHA Group, a leading Thai provider of fully integrated logistics and industrial facilities solutions, has secured in-principle approval from the Vietnamese government to invest in an industrial park in central Vietnam.

Industrial real estate - Wed, November 20, 2024 | 12:01 pm GMT+7

Indonesia, Brazil sign cooperation deals worth $2.65 bln

Indonesia, Brazil sign cooperation deals worth $2.65 bln

Indonesia and Brazil on Monday sealed cooperation agreements worth $2.65 billion in the areas of renewable energy, sustainable agriculture and technology at the Indonesia-Brazil Business Forum held in Rio De Janeiro, Brazil, on the sidelines of the G20 Summit.

Southeast Asia - Wed, November 20, 2024 | 11:57 am GMT+7

Nusantara not yet feasible as Indonesia’s capital city: authorities

Nusantara not yet feasible as Indonesia’s capital city: authorities

Indonesian Minister of Home Affairs Tito Karnavian said Jakarta still holds the capital status despite the enactment of State Capital Law No. 3 of 2022, adding that the capital city will officially be relocated after the president issues a presidential decree.

Southeast Asia - Wed, November 20, 2024 | 11:55 am GMT+7

Malaysia’s Halal industry to make up 10.8% of GDP by 2030

Malaysia’s Halal industry to make up 10.8% of GDP by 2030

Malaysia’s Halal industry is projected to account for 10.8% of the country's GDP by 2030, with an estimated value of RM231.1 billion ($51.7 billion).

Southeast Asia - Wed, November 20, 2024 | 11:48 am GMT+7

Thailand takes more fiscal measures to sustain growth momentum

Thailand takes more fiscal measures to sustain growth momentum

The Thai government is working on a raft of fresh fiscal measures to sustain an economic recovery, foster new foreign investment, and lower the near-record household debt, says Thai Prime Minister Paetongtarn Shinawatra's top aide.

Southeast Asia - Wed, November 20, 2024 | 11:46 am GMT+7

Indonesia named world's most generous country in 2024

Indonesia named world's most generous country in 2024

Indonesia has been the world's most generous country for the seventh consecutive year since 2017, reported local weekly magazine Tempo.

Southeast Asia - Wed, November 20, 2024 | 11:41 am GMT+7

Work begins on Mitsubishi Estate’s $55 mln logistics facility in northern Vietnam

Work begins on Mitsubishi Estate’s $55 mln logistics facility in northern Vietnam

Logistics facility brand Logicross, under Japan’s Mitsubishi Estate, kicked off the construction of its Logicross Hai Phong ready-built warehouse in Vietnam’s northern city of Hai Phong on Tuesday.

Industrial real estate - Wed, November 20, 2024 | 10:58 am GMT+7

French logistics giant eyes to launch electric barges on inland waterways in Vietnam

French logistics giant eyes to launch electric barges on inland waterways in Vietnam

CMA-CGM Group, a French shipping and logistics company, has plans to deploy electric barges, initially on inland waterways in Vietnam.

Companies - Wed, November 20, 2024 | 10:43 am GMT+7

2025 a turning point for Vietnam stock market: broker

2025 a turning point for Vietnam stock market: broker

Vietnam's stock market has struggled to capture the attention of both domestic and foreign investors in recent months, reflected by persistent foreign capital outflows and a steady decline in market liquidity, but next year will be a turning point for the market, says Chen Chia Ken, CEO of Phu Hung Securities JSC.

Finance - Wed, November 20, 2024 | 7:07 am GMT+7

Construction trio keen on building $1.5 bln expanded expressway in southern Vietnam

Construction trio keen on building $1.5 bln expanded expressway in southern Vietnam

Three construction majors in Vietnam are interested in building an expanded expressway connecting Ho Chi Minh City with the Mekong Delta provinces of Long An and Tien Giang for an estimated VND38.6 trillion ($1.52 billion).

Infrastructure - Tue, November 19, 2024 | 8:18 pm GMT+7

Singapore, Germany upgrade relations to strategic partnership

Singapore, Germany upgrade relations to strategic partnership

Singapore and Germany have decided to elevate their ties to a Strategic Partnership to promote closer cooperation in areas of mutual interest such as security, artificial intelligence (AI) and clean energy.

Southeast Asia - Tue, November 19, 2024 | 8:01 pm GMT+7

Thailand’s rice shipment up 20% in 10 months

Thailand’s rice shipment up 20% in 10 months

Thailand exported 8.37 million tons of rice in January-October, a year-on-year increase of 20%, according to the Ministry of Commerce.

Southeast Asia - Tue, November 19, 2024 | 8:00 pm GMT+7

Vietnam’s inconsistent legal framework poses problems for FDI sector: Deep C exec

Vietnam’s inconsistent legal framework poses problems for FDI sector: Deep C exec

Vietnam’s legal framework lacks consistency and the foreign direct investment (FDI) sector will soon face challenges related to the Law on Environmental Protection, says Bruno Jaspaert, CEO of Deep C Industrial Zones.

Economy - Tue, November 19, 2024 | 6:30 pm GMT+7

Vietnam shares sink on extended foreign selloffs

Vietnam shares sink on extended foreign selloffs

Vietnamese equities fell for a fourth consecutive day on Tuesday as foreign traders extended their selling spree.

Finance - Tue, November 19, 2024 | 5:10 pm GMT+7

Germany’s household product firm QuickPack to invest $32 mln in Vietnam

Germany’s household product firm QuickPack to invest $32 mln in Vietnam

Germany’s QuickPack, a specialist for household goods and hygiene products, will invest €30 million ($31.8 million) in Vietnam’s Mekong Delta province of Long An.

Industries - Tue, November 19, 2024 | 4:24 pm GMT+7

Malaysian millionaire willing to invest in convicted Vietnamese tycoon’s property project: lawyers

Malaysian millionaire willing to invest in convicted Vietnamese tycoon’s property project: lawyers

Malaysian millionaire Vincent Tan has evinced investment interest in a residential project owned by convicted tycoon Truong My Lan, chairwoman of Van Thinh Phat Group, lawyers for the latter have disclosed.

Real Estate - Tue, November 19, 2024 | 4:17 pm GMT+7