US firm Kachay Global Development to invest $100 million in Thanh Hoa

Kachay Global Development Inc. from the US looks to develop a food processing industry park with the initial investment capital of $100 million in Lam Son-Sao Vang Hi-Tech Agricultural Park in the central province of Thanh Hoa.  

The decision came after the firm conducted a survey to look for investment opportunities in the hi-tech agricultural park. The firm will develop food processing plants, and R&D area as well as a human resources training area in the food processing industry park.

Speaking at the working session with leaders of the Thanh Hoa People’s Committee, Samuel Karp, chairman of the Board of Directors of Kachay Global, stated that the agricultural park is an ideal investment destination.

Along with the food industry project covering an area of 200 hectares, the firm plans to invest in additional 800ha area to build a hospital,tourism centre, apartments, as well as to lure secondary investors.

Standing Deputy Chairman of the Thanh Hoa People’s Committee Nguyen Duc Quyen stated that the firm will complete the site clearance to hand over the ground to the investor soon. Additionally, the province wants the investor to pay in advance for site clearance, which will be then deducted from the land rentals.

Source: VIR

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