Confectionery producer Kinh Do is planning to build a new instant noodle plant worth $30m in northern province of Bac Ninh, Vietnam, under a partnership with Saigon Ve Wong.
Both the companies have signed an agreement to form a joint venture (JV) to this effect.
Construction on the proposed noodle manufacturing facility will take place in a four phase approach.
The facility will initially have the capacity to produce six million products annually, which will be later increased to 12 million by 2017.
Commenting on the development, Kinh Do said: "This is the next step in Kinh Do's bid to dominate Vietnam's essential food industry."
Kinh Do marked its foray into the instant noodle market with the launch of Dai Gia Dinh brand in December last year.
Through the partnership, Kinh Do will manage distribution and promotion of products manufactured at the Bac Ninh plant, while Saigon Ve Wong will be responsible for manufacturing, technology, operations and product research.
Both the companies also plan to build more facilities in other regions across Vietnam, as part of the JV.
