September 1, 2010

Vietnam's Phu An Sinh Co. gets US$1.28-million soft loan

Phu An Sinh Co. has received VND25-billion (US$1.28 million) soft loan to buy 10,000 pigs, which are not infected with blue-ear disease.

Authorities in the southern province of Ba Ria-Vung Tau have agreed to provide the loan free of interest.

The pigs, equivalent to 1,000 tonnes of pork, will be bought within one month for processing, Pham Van Minh, the company's director said. Phu An Sinh will use the pork for the province's price stabilisation program in the 2011 traditional Tet festival.

The company's safe pig purchase is expected to support local breeders in the context of blue-ear disease's rampancy.

Currently, blue-ear disease has spread to five out of eight districts in the province, killing 5,000 pigs out of a 12,000 affected herd. The province now has around 30,000 safe pigs need consuming.

Phu An Sinh is running a cattle slaughtering house in Hac Dich commune, Ba Ria-Vung Tau province. The house capitalised at VND25 billion (US$1.28 million), has a combined capacity of 16,000 chickens and 400 pigs per eight hours.