Becamex Binh Dinh Industrial Park attracts $80 million premium instant coffee project
Becamex Binh Dinh Industrial Park attracts $80 million premium instant coffee project
Binh Dinh Investment Promotion Centre announced on September 7 that the province will expedite a premium freeze-dried instant coffee project with an investment surpassing $80 million.
Dang Vinh Son, director of Binh Dinh Economic Zones Management Authority (BEZA), said that the body had granted Singapore-headquartered Future Enterprises Pte. Ltd. an investment certificate for the project.
The project will be implemented at Lot B21.01 in Becamex Binh Dinh Industrial Park (IP), part of Nhon Hoi Economic Zone, in Canh Vinh commune, covering more than 7.1 hectares. The project aims to produce and export freeze-dried instant coffee with a scale of 5,400 tonnes per year.
The project’s total investment value is more than VND2 trillion ($83 million), of which the investor’s equity amounts to $23.7 million, while the rest will be mobilised capital.
According to the BEZA, construction of the factory will take place from April 2027 to January 2028, The factory iset to operate until August 2070.
Future Enterprises PTE. LTD, led by Singaporean director Tan Wang Cheow, belongs to Food Empire Holdings Limited. Tan Wang Cheow is also CEO of Food Empire Holdings.
In mid-June, Amrish Rungta, vice chairman of Food Empire Holdings, had a working session with Binh Dinh People's Committee to explore investment opportunities in the province.
At the meeting, Rungta said that his visit to Binh Dinh aimed to seek opportunities for an instant coffee export processing plant with a total investment approximating $80 million.
Also at the meeting, Pham Anh Tuan, Chairman of Binh Dinh People's Committee, said that by investing in Becamex Binh Dinh IP, Food Empire Group will benefit from support policies issued by the Vietnamese government and Binh Dinh province.
In Vietnam, another member of Food Empire Holdings Group, FES Vietnam Co., Ltd., has a factory at Vietnam-Singapore Industrial Park (VSIP 1) in Thuan An city, Binh Duong province.
