Russian firm invests US$1.4 billion in pork farms and processing in Thanh Hoa

Thanh Hoa Province People’s Committee and Russia’s AVG Capital Partners have signed a Memorandum of Understanding (MoU) on a pork processing complex project worth US$ 1.4 billion in Nghi Son Economic Zone.

The complex which covers an area of 1,000 ha and is expected to raise 5 million pigs a year includes 43 pig farms, three breeding pig farms, an animal feed factory with capacity of 2 million tonnes per year and a pork processing factory with the capacity of 0.6 million tones per year.

AVG Capital Partners operates in agriculture, animal feed production, pork processing and sugar production. It is 20th biggest pork processor in terms of volume and ranked third in efficiency in Russia’s pork processing industry.

Vice-chairman of Thanh Hoa Province People’s Committee Nguyễn Văn Thi said that the province had advantages in infrastructure, connectivities and trade relationship with other localities in Vietnam and in the world.

“The advantages would create favourable conditions for investors to the province,” he said, adding that the province would keep improving its business environment to further attract investors.

Thi said that there were many big projects in Nghi Son Economic Zone and other industrial zones in the province.

Thanh Hoa province welcomed investors and would try its best to create favourable conditions for them to implement projects there, Thi said.

He called on investors for strictly obeying Vietnam’s regulations, particularly those relating to environmental protection.

A representative from AVG Capital Partners affirmed that once the project was carried out in the province, it would bring many benefits to the local socio-economic development, State budget, job creation and food processing technology.

TONMAT group is authorised by AVG Capital Partners to work in Vietnam. The TONMAT group is operating nine factories across Vietnam including TONMAT Vietnam, TONMAT Quang Ninh, TONMAT Son La, TONMAT Phu Tho, TONMAT Thai Binh, TONMAT Thanh Hoa, TONMAT Nghe An, TONMAT Đa Nang and TONMAT Miền Nam./.