The Bunge Vietnam Co, Ltd, a branch of the US’ Bunge Corporation officially inaugurated its soybean processing plant in Phu My 1 Industrial Park in the southern province of Ba Ria – Vung Tau on June 27.
The factory, the largest of its kind in Vietnam, has a total investment of US$100 million with the largest capacity of 1 million tonnes of soybeans per year. Each year, the factory will process around 200,000 tonnes of soybean for local market and as well as to export to foreign markets in South East Asia. Significantly, it will process domestically 800,000 tonnes of soybeans Vietnam would otherwise have to import.
The factory was put into operation on May 8 and reached 100 percent of capacity after three weeks. Established in 2002, Bunge Vietnam has become the largest provider of cattle feed in Vietnam.