Major fruit processor, An Giang Fruit-Vegetables & Foodstuff JSC (Antesco) has approved the establishment of a wholly owned subsidiary, with an investment of Dong 419 billion (US$16 million) to develop a fruit and vegetable preservation and processing plant in Tay Ninh province. The plant will have annual capacity of 33,600 tons.
The subsidiary, Antafood Co., Ltd will have a charter capital of Dong 130 billion (US$4.94 million) and will have its headquarter at Hoa Binh Industrial Park in Thu Thua commune, Tay Ninh. It will focus
on fruit and vegetable preservation and processing.
Antesco has decided to suspend the 2nd phase of its Binh Long plant (located at Loc Son Industrial Park in B’Lao commune, Lam Dong province) in order to prioritize resources for the Tay Ninh investment through Antafood.
Chairman Nguyen Ngoc Bao said Antesco aims to sustain annual revenue growth of more than 20% while continuing to pursue its long-term development strategy. Bao said rising geopolitical tensions were increasing uncertainty in the global economy, prompting the company to diversify its export markets and focus on products tailored to consumers’ everyday food needs in high-standard markets, including Europe, the US and developed Asian economies such as South Korea, China and Japan.
Apart from the existing investment, Antesco also plans to build a new manufacturing facility during 2025-2026 with an estimated investment of around US$20 million, although this has been delayed due to restructuring exercises.
