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TH Milk to milk the market
Locally-owned milk maker TH Milk Food Joint Stock Company has put into operation a $100 million state-of-the-art milk production factory that it bills as the most modern in Southeast Asia.
Last week the company began operation of the factory that uses German technology in central Nghe An province’s Nghia Dan district, with daily capacity of 600,000 litres.
This factory is part of the company’s $1.2 billion high-tech project of “raising dairy cows and industrially processing milk,” which is described as one of the world’s largest projects of its type.
The whole milk processing complex is expected to be completed in 2017, with annual capacity of 500 million litres of milk.
At present, TH Milk also has one 200-tonnes-per-day milk factory in northern Hung Yen province, which began operation in 2010.
TH Milk’s total revenue touched more than VND1 trillion ($48 million) in 2011, more than VND2 trillion ($96.15 million) last year, and is expected to increase to VND3.7 trillion ($177.9 million) this year, VND15 trillion ($721.1 million) by 2015 and VND23 trillion ($1.1 billion) by 2017.
The company’s investment capital comes from BacABank and its cow breeding technology is from Afimilk, which is Israel’s leading cow raising group.
The company is investing $350 million into its milk producing system for the first stage and the figure will augment to $1.2 billion by 2020.
The company currently has nearly 30,000 cows imported from New Zealand, Canada and Australia, of which 14,000 cows are milking.
By 2017, TH Milk will have 137,000 dairy cows, or about 50 per cent of Vietnam’s total dairy cows.
Plans call for TH Milk’s total land area for making milk, including meadows, feed production, and clean water and waste water treatment, to rise from the current 2,000 hectares to 37,000ha by 2017. At present, TH Milk’s sterilised milk accounts for more than 30 per cent of Vietnam’s water-based milk market share.
Each day, each cow can give about 40 litres of milk and the company reaps more than 300,000 litres of fresh milk. TH Milk’s fresh milk is currently sold in more than 125,000 stores nationwide with 160 distributors. The number of stores that exclusively sells the milk is nearly 100. This year more milk-related TH Milk products like assorted yoghurt, cheese, butter and cream are expected to be introduced.
In addition to TH Milk’s $1.2 billion project, Bac A Bank said it would continue investing a great deal of cash into building other big projects, including a project to build technical infrastructure of Nghia Dan Industrial Park, a $30 million project to raise freshwater fish, a $20 million project to plant olive trees. Besides, the bank is also implementing many other projects, including a $120 million euros ($156 million) project to make fire rated fiberboard and a $30 million project to cultivate greenhouse vegetables and vegetables.
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