By Park Ji-won
CJ CheilJedang will invest 50 billion won to build a flour plant in Vietnam in cooperation with the Japanese trading company, the Sumitomo Corp., the company said Thursday.
The food and beverage arm of CJ Group Thursday had a groundbreaking ceremony for the plant scheduled to be completed in April 2015 in Vung Tau Province in southern Vietnam.
"We seek to become the No.1 player in the Vietnamese market by 2020," CJ CheilJedang CEO Kim Chul-ha said in a statement
"We plan to expand our business to other Southeast Asia countries in the future," the firm's Chai Min-su said.
The plant will have an annual production capacity of 100,000 tons of flour and 10,000 tons of prepared dry mixes, available for home use and for small and mid-sized commercial bakeries.
CJ and Sumitomo set up a joint venture "CJ-SC Global Millig" in May 2013 owning 51 percent share and 49 percent share, respectively.
CJ CheilJedang will invest 50 billion won to build a flour plant in Vietnam in cooperation with the Japanese trading company, the Sumitomo Corp., the company said Thursday.
The food and beverage arm of CJ Group Thursday had a groundbreaking ceremony for the plant scheduled to be completed in April 2015 in Vung Tau Province in southern Vietnam.
"We seek to become the No.1 player in the Vietnamese market by 2020," CJ CheilJedang CEO Kim Chul-ha said in a statement
"We plan to expand our business to other Southeast Asia countries in the future," the firm's Chai Min-su said.
The plant will have an annual production capacity of 100,000 tons of flour and 10,000 tons of prepared dry mixes, available for home use and for small and mid-sized commercial bakeries.
CJ and Sumitomo set up a joint venture "CJ-SC Global Millig" in May 2013 owning 51 percent share and 49 percent share, respectively.
![[ANALYSIS] Tesla, BYD's price cuts unnerve LGES, Samsung, SK](https://img.koreatimes.co.kr/upload/thumbnailV2/b1cf8ba68d474cb69352bfe7ea9d14f0.jpg/dims/resize/178/optimize)
![[INTERVIEW] How ATEEZ achieved worldwide success](https://img.koreatimes.co.kr/upload/thumbnailV2/c7723b56dde94eb4b260950d368fe8fb.jpg/dims/resize/178/optimize)
