December 5, 2007

High global demand prompts Vietnam seafood processors to upgrade capacity

The Vietnam Association of Seafood Exporters and Processors (VASEP) said a number of its members have been investing in processing technology to meet global market demands in both quality and quantity.

Deputy Director of the K&K Co., Ltd. Tran Quang Khai said his company will build a seafood fodder factory with an annual capacity of 70,000 tonnes in the southern province of Dong Thap in 2008. The US$6 million project is expected to become operational in August 2008.

The Anvifish Co has also unveiled a plan to invest some VND400 billion (US$24.93 million) in a cold storehouse with a capacity of 40,000 tonnes.

The facility will be put into operation by May 2008 to meet the company's scheme to expand to Middle-East, Central and Southern America markets, said Anvifish Co General Director Luu Bach Thao.

Anvifish Co's processing factories meet international standards such as HACCP and ISO: 2000.

Another seafood processor, the Hung Ca Co., Ltd, has also invested 30 billion VND to increase its capacity to 150 tonnes of raw materials a day. The company already posted VND197 billion in revenues and VND9.7 billion in post-tax profits.

Its products are now available across Europe and Asia and some markets in America,  Africa and the Middle-East. The company now boats 80 fish farms to raise basa catfish in 250 hectares of water surface in the southern province of Dong Thap.