September 29, 2008

Charoen Pokphand Group (CP) wants to invest in shrimp-farming projects in South Africa, according to the Board of Investment (BoI).

CP has set up a marketing unit to export shrimps from India to South Africa, where several Thai restaurants are operating, the Board said.

For the next five years, CP's annual investment budget for food activities, which is about THB 4-5 billion, would be shifted to foreign operations, said Adirek Sripratak, president and chief executive of Charoen Pokphand Foods.

CP has concentrated most of its foreign investments in the Greater Mekong Subregion (GMS) nations - Cambodia, Laos, Myanmar, and Vietnam - as well as China and India.

CP currently has 23 contract farming projects for crops in Myanmar and four shrimp farms in India, said Vasana Mututanont, the director of the BoI's International Affairs Bureau.