Vinamilk licensed to build plant in Cambodia

A worker watches over a powdered milk production line at the just-opened factory of Vinamilk in Binh Duong Province - Photo: Hoang Phi
  She was speaking at the opening ceremony for the $100-million powdered milk plant of Vinamilk in Binh Duong organized on Monday with the participation of Prime Minister Nguyen Tan Dung.   Lien did not reveal the capacity as well as the total cost of the factory to be developed in Cambodia. Still, she informed Vinamilk every year exported $40-50 million worth of dairy products to this market, a volume large enough for the company to operate a milk plant there.   Currently, Vinamilk is holding a 20pct stake in a milk plant in New Zealand. The company is seeking to acquire more factories overseas.   “We are eyeing milk factories in Australia and the U.S.,” said Lien.   In 2012, Vinamilk achieved hefty sales revenue of VND27.3 trillion, or some $1.3 billion, including about $180 million from export.   Vinamilk wants to make it to the world’s top 50 largest dairy companies with annual sales revenue of $3 billion by 2017.   Acquiring dairy companies in foreign countries is the shortest way to accomplish such a goal and also an effective method to expand market overseas, said Lien.   To realize its goal of becoming one of the world’s 50 biggest dairy firms, Vinamilk has spent $200 million building two milk plants in Binh Duong for production of powdered milk and fresh milk. The powdered milk plant inaugurated on Monday has a capacity of 54,000 tons per year, meeting 80pct of the demand at home, where Vinamilk is holding a 30pct market share.   The two plants will facilitate Vinamilk to boost export in order to expand market overseas.   This year, some 30,000 tons of powdered milk produced at the plant in Binh Duong will be exported, bringing in an estimated $180 million among $230 million in the company’s estimated export revenue.