December 17, 2009
Bunge constructs US$100 million soy plant in Vietnam
Bunge Ltd on Wednesday (December 16) announced that a US$100 million integrated soy processing plant has begun construction in Vietnam and production would officially start in 2011.
Bunge said it would place a 3,000-tonne-per-day crushing line during the first phase of the plant's construction while it was working on an oil distribution strategy. The facility is hoped to further develop its existing meal distribution network in Vietnam.
Despite the global economic slowdown, Vietnam's demand for vegetable oil for consumers and protein for livestock had continued to grow at double-digit annual rates, it said.
Christopher White, CEO of Bunge Asia, said in a statement that "Vietnam remains one of Bunge's best growth opportunities."
The plant, built by subsidiary Bunge Vietnam, will be about 70 km (45 miles) southeast of Vietnam's commercial hub, Ho Chi Minh City, in an area with significant feed-milling and oil-refining operations that form the foundation of the plant's prospective customer base, the company said.