April 9, 2008

Three foreign firms to open catfish plant in Mekong Delta

Cuu Long An Giang Seafood Im-Export JSC said it will have a joint venture with Thai Son Co., and three foreign companies to establish a catfish export factory in Mekong Delta region.

Singapore's Interocean Foods PTE Co., Arab Saudi's Quwat Albahr for Trading, and Malaysia's Piau Kee Holding are the foreign corporations that will merge for the project.

The new factory will focus on producing tra and basa catfish for exports to Russia, Singapore and Eastern European markets.

The Cuu Long An Giang JSC, however, did not disclose any financial details as well as the exact location of the factory.

Last year, the company posted VND537.45 billion in revenues, and VND56 billion in profits. It is also seen to increase the figures to VND640 billion and VND60 billion in 2008, respectively.