Vinamilk's first dairy farm in the province’s Huong Son District with a scale of 3,000 cows. — Photo nhandan.com.vn

The Vietnam Dairy Products Joint Stock Company (Vinamilk) has sent a document to the Ha Tinh Province People’s Committee, proposing to build a second dairy farming complex in the central province.

The complex, expected to cost more than VND1.2 trillion (US$52 million), will cover between 300ha and 350ha in Huong Vinh Commune, Huong Khe District, the online newspaper baohatinh.vn reported.

It will comprise one to two dairy farms which will be home to up to 8,000 dairy cows and one cattle farm with a scale from 2,000 to 4,000 heads.

Additionally, Vinamilk also proposes to develop a material cultivation for cows which will span from 5,000ha to 7,000ha in Huong Khe District and other locations in the province.

In 2016, Vinamilk opened a VND300 billion dairy farm in the province’s Huong Son District with a scale of 3,000 cows.

Currently, Vinamilk owns 12 farms with 130,000 cows in the country. It holds about 59 per cent of the domestic market share, with high potential for further development. The company has also expanded the sale of its products to other countries.

Vinamilk earned VND52.5 trillion in total revenue in 2018, up 3 per cent year-on-year, and VND10.26 trillion in profit, slightly down from 2017.

In 2019, the company targets VND56.3 trillion in total revenue, up 7 per cent from last year, and VND10.5 trillion in total post-tax profit, up 2.5 per cent. — VNS