Hung Vuong will establish a pig breeding joint venture with Thadi to produce piglets. — Photo nld.com.vn

The board of directors of Hung Vuong Corporation (code: HVG) has approved the capital contribution to establish the Viet Dan Livestock Feed & Breeding Pigs Production Co, Ltd in Long An Province.

The joint venture has a charter capital of VND556 billion (US$23.9 million), including 25 per cent from Hung Vuong and 75 per cent from the Thadi Agriculture Farming Processing and Distribution Joint Stock Company, a subsidiary of the Truong Hai Auto Corporation (Thaco).

Duong Ngoc Minh, chairman of Hung Vuong, is authorised to be the representative of Hung Vuong managing its capital at the joint venture, reported the Dau tu (Investment) newspaper.

Previously, Hung Vuong has signed a strategic cooperation agreement with Thadi. According to the agreement, Thadi will hold 35 per cent of total capital at Hung Vuong and 75 per cent of the capital in the joint venture of pig production between Hung Vuong and Thadi.

Thadi and Hung Vuong have established two other joint ventures, including the Tinh Bien An Giang Livestock Breeding Co, Ltd with capital of VND160 billion in An Giang Province and the Viet Thang Phu Cat Livestock Breeding Co, Ltd with a capital of VND320 billion in Binh Dinh Province. — VNS