Sunday , April 21 2024

Vinamilk, Sojitz begin work on giant beef processing complex

Construction of a cattle farm and beef processing plant began Wednesday in Vinh Phuc by a joint venture between dairy giant Vinamilk and Japan’s Sojitz Corp.

Japan Vietnam Livestock is building one of Vietnam’s largest plants on 75 hectares in the northern province, and it will begin operations in June 2024, according to a statement by Sojitz.

The joint venture will invest VND3 trillion ($127 million) in the VINABEEF Tam Dao Farm and Beef Processing Complex.

It will breed 10,000 head of cattle, slaughter 30,000 and produce 10,000 tons of chilled beef products annually.

Vietnam’s annual beef consumption is around 500,000 tons.

In future Japan Vietnam Livestock plans to expand into pork, poultry and others and become the country’s largest integrated meat business.

Vinamilk owns 51% in the venture and Sojitz the remaining 49%.

The former is the largest diary company in Vietnam, while the latter is a conglomerate with interests in commodities and manufacturing.

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