A source from Bac Ninh Industrial Park Management Authority told VIR
that the US firm has received the investment certificate earlier this year. The project is capitalised at $70 million.
Earlier, Cargill faced great difficulties, as all preparations for the new project were halted due to a tardy approach to the completion of the necessary legal documents.
The US firm sent Document No.3107 to the Government Office, seeking a remedy for the project.
At that time, general director of Cargill Vietnam Jorge Alberto Becerra Illingworth, blamed the deadlock partly on the Ministry of Agriculture and Rural Development’s Document No.1426/BNN-CN, issued in mid-February 2017, which limits new investments in factories producing feed for pigs and domestic fowls.
With the deadlock cleared, the Bac Ninh mash project is in progress and is designed to be the company's biggest facility in the country. It will be the 11th Cargill plant of this kind.
After 22 years of operation, Cargill Vietnam now has 11 facilities across the country employing 5,000 people. The company’s products are distributed through a network of 3,200 agents. The firm supplies around 1.6 million tonnes of animal feed to farms and farmers annually.