Chinese company invests in animal feed in Vietnam
Updated: 2011-09-20 11:00
HANOI - A Chinese Company, Sichuan Tequ Group on Sept 19 officially commenced production of animal feed in Vietnam's northern Bac Giang Province.
Khu Hope Feed Company, the first feed company invested by Tequ Group in Vietnam, with the investment of $10 million and an annual output of 400,000 tons, is currently the largest Chinese-funded feed manufacturer in Vietnam.
Speaking at the launching ceremony of the production, Hoang Kim Giao, director of the Livestock Breeding Department under the Vietnamese Ministry of Agriculture and Rural Development, said Vietnamese government has always attached great importance to the development of livestock breeding industry, as the current feed market in Vietnam is still in short supply. The operation of the venture invested by Tequ Group will bring advanced feed production technology and management experience to Vietnam, and further enhance agricultural cooperation between the two countries.
Lai Thanh Son, vice governor of Bac Giang Province, said livestock industry is a pillar and key support industry in Bac Giang province, adding that the project will greatly promote the province's livestock feed industry and improve the local farmers' economic benefits.
Wang Degen, president of Sichuan Tequ Group, said the operation of the Khu Hope Company made a very good start in the group's business in Vietnam. Tequ Group will take advantage of the rich local resources and other favorable conditions to improve the investment in Vietnam and achieve the group's strategy of a complete livestock and aquiculture, feed production and food processing chain in Vietnam by 2020.
The group will construct seven more feed manufacturers, two breeding pig farms and two breeding poultry farms in Vietnam during 2012-2017, bringing the group's annual sales to 2.8 million tons, annual production value to $3 billion by 2020, according to Wang.