Leading Vietnamese dairy producer Vinamilk inaugurated Wednesday a US$23 million milk production plant in a special economic zone in Phnom Penh, allowing Cambodian consumers to enjoy domestically made products that meet international standards.
The Angkor Dairy Factory is a joint venture between Vinamilk, fully known as Vietnam Dairy Product JSC, and Phnom Penh-based BPC Trading Co. Ltd.
The Vietnamese firm was licensed to implement the project in 2014, and now holds a majority stake of 51 percent in the joint venture.
Spanning nearly 30,000 square meters at the Phnom Penh Special Economic Zone, Angkor Dairy Factory is capable of producing 19 million liters of liquid milk, 64 million cups of yogurt and 80 million cans of sweetened condensed milk annually during its first phase. The products are branded Angkormilk.
The plant aims to increase the capacity to 38 million liters of liquid milk and 192 million cups of yogurt by 2024.
“The plant will help Cambodian consumers use nutritious products manufactured under international standards in their own country,” Vinamilk chairman Le Thi Bang Tam said at the ribbon-cutting ceremony.
Cambodian Deputy Prime Minister Men Sam On spoke highly of the Vinamilk project, expressing her hope that more Vietnamese-invested projects having similar eco-social importance will be implemented in the Kingdom.
The Phnom Penh Post said Angkor Dairy Factory is the first milk production plant in Cambodia.
According to a Vinamilk financial report in 2015, the Hanoi-listed company posted an after-tax profit of nearly $350 million, an increase of 28 percent year on year.
The company’s total revenue reached $1.8 billion last year, up 14 percent from 2014.
Last year Vinamilk’s revenue rose 14.2 percent year on year to VND40.22 trillion ($1.8 billion), whereas its post-tax profit topped VND7.76 trillion ($346.43 million), up 28 percent from a year earlier.