CPF plans large expansion into Laos
Thai company Charoen Pokphand Foods (CPF) has revealed plans to invest $3 million on an expansion project into neighbouring Laos.
CPF president and CEO Adirek Sripratak said that the money would focus on animal-feed mills and pig and poultry farms. The company is currently looking in to several provinces for suitable sites. The project is due to begin in the first half of 2007.
“It is the first time the company is expanding investment in Laos to penetrate the local market,” he said.
Sripratak added that the investment would be made through the company’s subsidiary, CP Northeastern (CPN).
To facilitate the process, CPN has set up CP Laos, whose registration in Laos is expected to be completed before the end of the year.
CPF has been investing in foreign markets for five years now. Turkey was one of the first, where the company invested in poultry farms, followed by aquaculture projects in China and India.
The company also expanded aquaculture investment in Malaysia in the middle of this year. Furthermore, the company’s board of directors approved investments in pig and poultry operations in Russia this year.
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