January 5, 2007
China's New Hope Group builds aquaculture feed plant in Vietnam
New Hope Group has completed a land purchase in southern Vietnam's Dong Thap province, paving the way for the company's further expansion into the country.
The company would set up an aquaculture feed manufacturing base at the site, with estimated yearly production of more than 100,000 tonnes.
New Hope has been expanding its oversea market for more than seven years. The company's subsidiary in Hanoi has been in profitable operation for three consecutive years.
The group currently has three animal feed plants in the country, with a total investment of US$20 million and yearly production of 800,000 tonnes.
The warm climate and water conditions in Vietnam makes it a suitable location for the growth of aqua-products, the company said.