TH Group to invest in Moscow
TH Group, one of Vietnam's leading milk suppliers, will invest 2.7 billion USD in a cow breeding and dairy processing facility in Moscow.
A cow farm of TH Group (Source: VNA)TH Group, one of Vietnam's leading milk suppliers, will invest 2.7 billion USD in a cow breeding and dairy processing facility in Moscow.
The project is part of a cooperation agreement signed between TH Group's Chairman Thai Huong and visiting Governor of Moscow Oblast Andrei Vorobyov on October 22, in the presence of Prime Minister Nguyen Tan Dung.
TH Group will complete the necessary procedures by the end of this year to launch the project next April. It is scheduled to launch the first batch of TH milk in Russia in the middle of 2017.
Once completed, the 140,000 ha project will house 350,000 cows and process 5,900 tonnes of fresh milk per day or nearly 1.8 million tonnes per year.
Thai Huong, who was named in the Asia's Power Businesswomen 2015 list by Forbes in March this year, said this is the largest investment project on food by a Vietnamese firm in Russia.
Governor Andrei Vorobyov placed high value on the project, saying it will contribute to promoting the bilateral relationship between two countries, which has been enhanced to a comprehensive strategic partnership by the leaders of two sides.
The project will similarly be carried out with the group's Nghe An central province-based feeding farm, which was recognised as Asia's largest hi-tech farm by the Asia Book of Records.
Earlier, Minister of Agriculture and Food of the Moscow Oblast Dmitry Stepanenko visited the farm in Nghe An province.-VNA
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