December 2, 2013

Charoen Pokphand may invest US$1.6 billion in business expansion

Charoen Pokphand Foods (CPF), Thailand's largest agribusiness company, plans to invest THB50 billion (US$1.6 billion) in expanding the capacity of its feed, farm and food businesses during 2014-16.

In 2014, CPF is aiming for revenue growth of 15% from its THB380-390 billion in 2013, which is below target due to the impact of a shrimp disease at its farm operations, Chief Executive Adirek Sripratak told reporters.

Adirek said that 60% of the company's investment budget will be invested in overseas operations and the rest for domestic businesses from 2014-16.

In June, the company cut its five-year investment budget and revenue target after its foreign farms performed below expectations.