Salim's plant in Vietnam

Salim's plant in Vietnam

HANOI (AFP): An Indonesian and a Singaporean firm have set up a US$134 million joint venture to build a food processing zone in the southern oil hub of Vung Tau, a news report said yesterday.

The official daily Saigon Giai Phong reported that the new joint venture between the Investment, Construction and Commerce Co. of Vung Tau, the Indonesian Salim Corp. and the APR International Holding Co. of Singapore was to build a food processing complex in an area of nearly 57,000 square meters in the suburb of Vung Tau.

The complex would comprise bakeries, storage facilities, plants for manufacturing dairy products, baby food, cooking oil, animal feed, and a sea port, the paper said.

This is the biggest food joint venture in Vietnam since the country opened its doors for foreign investors in 1988.