Kinh Do Joint Stock Company (KDC) and Saigon Ve Wong Co, Ltd on May 12 signed a joint venture contract to build an instant noodle factory in the Vietnam-Singapore Industrial Park (VSIP) in the northern province of Bac Ninh.
Initial investment capital of US$30 million, and KDC contributed 49% while the remainder came from Taiwan’s Saigon Ve Wang Co, Ltd.
The factory’s initial capacity will be 6 million boxes of instant noodles each year.
It is expected to launch four groups of products into the market including instant noodles, spices, instant foods and sauces.
The construction of the factory in the north hopes to meet the consumption demand of the region. In the near future, KDC and Saigon Ve Wong are set to expand and build additional factories in the central and western regions.
Taiwan’s Saigon Ve Wong Co, LTd has invested in the industry throughout Vietnam for the five decades years.
This is one of the first foreign companies to invest in Vietnam in this industry. It is also an importer and exclusive distributor of Kiwi Zespri from New Zealand.
Source : VOV.VN