Cau Tre invests $54m in Hiep Phuoc IP

Cau Tre Export Goods Processing JSC last week signed a contract with Hiep Phuoc Industrial Park Joint-Stock Company (HIPC) to build a food processing complex in Hiep Phuoc Industrial Park in HCM City’s Nha Be District. — Photo baodautu.vn

The 7-ha complex will cost more than VND1.2 trillion (US$54 million) and include a food processing plant with modern product lines, a research and development centre and a food safety centre.

Nguyen Truong Bao Khach, general director of HIPC, said Cau Tre’s investment in modern product lines, research and development centre and food safety centre would supply safe food to the market.

The complex meets the goals of the city policy to attract investment in the food processing sector that uses high-skilled labour.

Cau Tre’s products are exported to more than 30 countries and territories such as Europe, Japan and the US.

HIPC, together with the HCM City Export Processing and Industrial Zones Authority (HEPZA), on February 20 gave investment certificates to Tsurumi Pump Viet Nam Co, Ltd.

The company is investing in a plant that produces pumps and pump parts. The plant will cost VND 156 billion ($7 million) and cover an area of 2.3ha.

Construction will start this year and the plant will begin operation in April 2019. — VNS