Japanese firms Sojitz and Kyodo Shiryo have invested 2 billion Japanese yen (US$26 million) in an animal feed processing plant in the outskirts of Ho Chi Minh City.

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The plant is expected to be operational by April 2013 and will have a total processing capacity of nearly 200,000 metric tons per year. By 2020, the joint venture plans to control a 10% market share in supplying cattle feed to Vietnam, based on revenues expected to have reached 80 billion yen (US$1.04 billion) annually.