Kaluga region, Vietnam's TH True Milk sign investment agreement on dairy, hothouse products
MOSCOW. May 16 (Interfax) - The Kaluga region and Vietnam's TH True Milk concern signed an investment agreement on Monday on the construction in the region of a complex for the production and processing of milk and a hothouse complex for the production of eco-friendly fruit and vegetables, an Interfax correspondent reported from the signing ceremony.
The signing took place as part of the visit of Vietnamese Prime Minister Nguyen Xuan Phuc to Russia.
The project in Russia will be the first foreign experience of the Vietnamese concern. The first stage of the dairy project envisages the construction of a complex for 12,000 head of cattle by 2019. Investments are estimated at nearly $220 million.
In addition, the leadership of the Moscow region announced the intentions of TH True Milk to implement a dairy project in the Moscow region. The first two stages of investments are estimated at $500 million.
TN True Milk concern includes dairy farms, dairy and feed plants, an integrated medical center, a chain of stores, and resorts. In addition the concern grows organic vegetables and produces functional food products.
