Representatives of Desmet Ballestra Group from Belgium, Vietnamese Sao Mai Group and Viet Nam Industry and Trade Bank (Vietinbank)'s Leasing company sign a Memorandum of Understanding (MoU) on the second phase development of fish oil refinery plant project in An Giang Province. — VNS Photo Cong Thanh

DA NANG (Biz Hub) — The Desmet Ballestra Group from Belgium signed a memorandum of understanding (MoU) on the second-phase development of a fish oil refinery plant.

The deal was signed with the Sao Mai Group and Viet Nam Industry and Trade Bank (Vietinbank)'s Leasing Company in the central city on July 31.

As per the agreement, the Desmet Ballestra Group, which is the world leader in engineering and the supply of plants and equipment for the oil, fat and animal feed industries, besides detergents, surfactants and chemical industries and the oleochemical and biodiesel industries, will boost co-operation in technology support and transfer in the manufacture of fish oil and cooking oil from tra and basa catfish in the region.

The An Giang-based Sao Mai Group said in a statement that the MoU would help to increase the capacity of the fish oil plant, Ranee, to produce 200 tonnes each year in the second phase, with a total investment of US$17 million.

The plant, built in the Cuu Long (Mekong) Delta province, started producing fish oil in 2013 with an investment of $32 million in the first stage.

Chairman of Sao Mai Group Le Thanh Thuan said the second phase of the fish oil plant would help process a huge quantity of tra (sutchi) and basa (yellowtail) catfish in the Mekong Delta region.

He said the plant would also produce a unique cooking oil and fish oil from tra and basa catfish in the Mekong region for domestic use and export.

According to a later report, the Sao Mai Group earned VNĐ4.4 trillion ($195 million) in revenue from seafood, tourism property, foodstuff and renewable energy products in 2015, besides healthcare with 13 subsidiaries. — VNS