Vinamilk, a Vietnam-based dairy company, is set to commence construction of a milk factory in the capital of Phnom Penh, Cambodia, as part of its efforts to more than double its revenues to $3bn by 2017.
Set to be established through a joint venture with a local partner, the Cambodian facility is slated to commence construction in the second quarter of 2014, following the receipt of regulatory approval.
The facility will produce condensed milk, yogurt and milk sterilised at ultra-high temperatures and allows the company to cater to the increasing demand for milk, yogurt and ice cream in southeast Asia.
Vinamilk chairwoman and general director Mai Kieu Lien was quoted by Bloomberg as saying that the company will expand into other overseas markets over the next five years.
"We will focus on expanding the domestic market as well as speeding up exporting to other markets," Lien added.
If the revenue target is reached in 2017, Vinamilk would be one of the top 50 milk producers in the world.
