Thadi, HVG set up joint venture to raise 1.2 million pigs per year

Thadi, the agricultural arm of automotive manufacturer Thaco Group, will shake hands with pangasius exporter Hung Vuong JSC (HVG) to raise pigs following the European Food Safety Authority (EFSA)'s standards.

Under a newly-signed strategic cooperation agreement between the two sides, Thadi will hold 65 percent stake in a joint venture with HVG to raise up to 1.2 million pigs annually.

This year, the joint venture pour 2 trillion VND (86.34 million USD) in raising about 45,000 breeding pigs at farms in An Giang and Binh Dinh with 15,000 pigs expected to be supplied to the market in March.

Thadi will also acquire a 35 percent stake at HVG and participate in the board of management of the pangasius producer.

Thaco's Chairman Tran Ba Duong said HVG has exclusive rights to raise a pig variety imported from Denmark. The company has developed hi-tech pig farms in An Giang and Binh Dinh, and also produces cattle feeds and supplies hi-quality piglets to farmers, he said.

However, the firm has suffered from losses and financial difficulties in recent years.

Cooperation with Thaco will help HVG gain breakthroughs in live-stock farming and provide Vietnamese consumers with safe food products at affordable prices, said HVG Chairman Duong Ngoc Minh.

Minister of Agriculture and Rural Development Nguyen Xuan Cuong highly spoke of the cooperation, saying the strategic deal will contribute to developing hi-tech farming in Vietnam. He also expected Thaco to expand hi-quality cattle farming to satisfy domestic demand.

Thadi has charter capital of 3.5 trillion VND and owns a total agricultural land of 29,600 hectares, of which 10,000 hectares are for fruit farming. The company also raises about 90,000 heads of beef cattle.

Source: Vietnam News Agency