AVG Capital Partners plans to build a US$1.4 billion pork-processing complex in Thanh Hoa province including farm raising 5 million pigs a year.
Thanh Hoa Provincial People’s Committee has signed a memorandum of understanding with AVG Capital Partners to construct the pork- processing complex in Nghi Son Economic Zone with a total investment of US$ 1.4 billion, Zing News reported.
A big farm will be built on 1000- hectare area and raise 5 million pigs a year. In which, there are 43 farms raising commercial pigs and 3 farms for hybrid pigs. A compound animal feed production plant with a capacity of two million tons a year, a slaughterhouse and a meat processing plant with a capacity of 0.6 million tons will also be constructed.
The project will be divided into 3 phases and 2 groups suitable for each construction phase depending on financial conditions.
The AVG representative affirmed that the project will bring many benefits to the locality such as developing an economy, budget, creating jobs for laborers as well as promoting the development of food processing technology in accordance with international standards.
Thanh Hoa Vice Chairman Nguyen Van Thi said that the province will create favorable conditions for implementing the project.
AVG Capital Partners operates in agriculture, animal feed production, meat processing, and sugar production. It ranks the 20th and 3rd in terms of output and business efficiency respectively in the pork processing field in Russia.