Mitraco kicks of the construction of a sika deer velvet processing plant in Ha Tinh province  on October 4. —  Photo baomoi.com

HA TINH ( Biz Hub ) — Works on a US$2.9 million sika deer antler velvet processing plant in Thach Ha district, central Ha Tinh province began October 4.

The Ha Tinh sika deer antler velvet processing plant, invested by the Ha Tinh Minerals and Trading Joint Stock Cooperation (Mitraco), consists of two stages in an area of 15,485sq.m.

The project uses a closed modern technical chain which meets the Good Manufacturing Practice (GMP) standard and is guaranteed by tight testing procedures.

The first stage of the project is expected to produce many products, including Cuhamine energy pills, velvet ginseng alcohol and deer antler velvet patch.

Speaking at the groundbreaking ceremony, General Director of Mitraco, Duong Tat Thang said that the project aims to produce high end products, diversify products, as well as improve medical value and economic efficiency from sika deer antler velvet.

Chairman of the Ha Tinh People's Committee Le Dinh Son asked Mitraco to follow strict regulations on investment management and construction.

The Mitraco has capital of VND1.3 trillion ($59 million). The company's main activities include mining, producing, trading construction materials and producing functional foods from deer antler velvet.

Ha Tinh is the leading province of the deer breed sector, with deer products accounting for 70 per cent of output.

The velvet of sika deer antler has many benefits, including reducing stress along with anti aging and cartilage regeneration. — VNS.