NutiFood to invest over VND1 trillion in Daklak
Monday, May 15,2017AsemconnectVietnam - NutiFood Nutrifood Food Joint Stock Company inked a high-tech agriculture cooperation agreement worth more than VND1 trillion (US$44 million) with the government of Daklak Province yesterday to invest in coffee farming and processing.
The company intends to build a local coffee processing plant and develop a ‘made-in-Daklak’ coffee brand.
Besides, NutiFood pledges to apply advanced dairy farming technology for high milk yields. Its chairman of the board, Tran Thanh Hai, said the company sees this investment project as a top priority.
Meanwhile, the local government has given NutiFood the go-ahead to become the sole strategic shareholder of Phuoc An Coffee One Member Limited Company, Daklak’s first State-owned enterprise equitized in a pilot scheme.
NutiFood has already held a 25% stake in Phuoc An. It has plans to raise its stake to 51% in the coming time.
Ho Sy Trung, Phuoc An’s general director, says NutiFood’s investment capital will help his company undergo restructuring and renovation, and improve the efficiency of land use thanks to hi-tech agriculture towards the production of organic coffee. This will bring more value to agricultural products and increase export revenue.
Source: vov.vn
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