July 10, 2012
Austfeed to produce 600,000 tonnes animal feed annually
Rising from the current 450,000 tonnes, Vietnam-Australia Joint Venture (Austfeed) will produce 600,000 tonnes of animal feed every year, state media reported.
To gain this result, the firm will install a modern production chain of Buhler, said Austfeed's Chairman David John Whitehead, who is also chairman of the Australian Chamber of Commerce (AusCham).
Currently, the firm has a plant built on a five-hectare area in the northern province of Hung Yen.
The Australian side committed to pour investment of US$30 million in the joint venture by 2015 to turn the firm into leading Vietnamese firm, providing animal offspring, animal feed, foodstuff, and livestock farm technology to meet local demand.
The joint venture, set up in 2007, is among leading producer of animal feed with annual revenues of VND1 trillion (US$47.8 million).