Русский
Vietnam’s TH Group is to launch the first stage of a new dairy plant in Russia’s Kaluga Region next month, according to Kaluga Regional Governor Vladislav Shapsha.
TH Group is a large manufacturer of dairy products in Vietnam. Shapsha said that “We have visited the construction site of the dairy plant of the TH True Milk company with the Vietnamese Deputy Prime Minister. Construction and installation work is nearing completion, and equipment is being installed. The opening of the first line is scheduled for May this year.”
Construction on the plant began in 2018 but was delayed due to the Covid pandemic. Now back on track, the TH Group’s Kaluga investment is valued at US$155 million. The project is now expected to reach full capacity by 2026.
The Vietnamese diary industry is a large investor into Russia, with TH Group previously announcing plans to invest around US$2.7 billion in the Russian economy. This involves the construction of additional farms and processing facilities in the Moscow, Tyumen, Bashkiria and Primorsky Krai.
Vietnam’s per capita milk consumption is growing with the dairy market expected to grow from 159.6 kilotons in 2021 to 375.1 kilotons by 2030. Vietnam has a Free Trade Agreement with Russia via the Eurasian Economic Union.
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