Vinamilk, a Vietnam-based dairy firm, plans to open a new dairy facility through a joint venture in Phnom Penh, Cambodia by July 2015.
The company will hold a 51% stake in the proposed plant.Construction on the 2.7-hectare dairy facility is expected to begin in the second quarter of 2014, once the final approval from the Cambodian Government is obtained.
Vinamilk general director and chairwoman Mai Kieu Lien said, “Vinamilk has been exporting dairy products to Cambodia for many years.
“The plant will help us expand market share in Cambodia while reducing transportation costs as well as import taxes.”
Vinamilk said that it will continue to target markets across the US and Europe.
The company opened a $114m dong milk plant in Vietnam in September 2013.