CP Group to invest $88 million in Vietnam
Vietnamese market is the beginning target for the operation.
Thai Charoen Pokphand Group (CP Group) is to launch an integrated food operation worth US$88 million (3 billion Baht) in Binh Doung, a city near the capital of Vietnam, according to a report from The Nation.
The new plant will achieve 600,000 tons of feed production capacity per year and is expected to compete with local producers counting on its high food safety standard, said the report.
Although this plant will serve the Vietnamese market in the beginning, it aims at future exports of fresh chicken, shrimp and eggs to the Middle East, The Nation quoted Sarasin Viraphol, the vice-chairman of CP Group.