A consumer inspects pork at a supermarket in HCMC. AVG Capital Partners based in Russia plans to develop a pork processing complex in Thanh Hoa Province with a total investment of US$1.4 billion – PHOTO: THE SAIGON TIMES

HCMC – AVG Capital Partners based in Russia and the Thanh Hoa government have signed a memorandum of understanding to develop a pork processing complex with total investment of US$1.4 billion.

The complex is set to cover at least 1,000 hectares of land at the Nghi Son Economic Zone and have an annual capacity of five million pigs.

Besides, the projected complex will comprise a feed production factory with a capacity of two million tons per year, a slaughterhouse and a processing facility covering 400 hectares with a capacity of 600,000 tons per year. The project will be carried out in three phases.

AVG, one of the largest pork producers in Russia, committed to complying with Vietnamese legal regulations and environmental protection during its investment in the country, the local media reported.

Vice Chairman of Thanh Hoa Province Nguyen Van Thi said that the province is ready to welcome and accompany foreign and local investors in researching the market and developing projects.