20 October 2006 - According to the Vietnamese press, two affiliates of leading confectionery firm Kinh Do Corporation, have started building two production facilities worth VND 664 billion (USD 41.3 million) in the southern Binh Duong province.
The first plant named Kinh Do Binh Duong Factory received an investment of VND 384 billion (USD 24 million), 80% of which came from Kinh Do Corporation. It will produce crackers, cupcakes and layercakes. The plant is expected to achieve an annual turnover of VND 457 billion (USD 29 million) by 2010, half of which would be from exports.
The second facility, Tribeco Binh Duong, 20%-owned by Kinh Do, has cost VND 280 billion (USD 17.4 million) and will manufacture soft drinks at a rate of 30 million cartons per year. The new plant will replace Tribeco’s current two factories in Ho Chi Minh City, which have a total output of 10 million cartons each year.
The two plants are reportedly expected to be operational in 2008, creating jobs for thousands of local workers.