S.Korea Corp Mulls US$15Mln Cold Storage in Vietnam

Korindo, a South Korea corporation, plans to construct a US$15-million cold storage in Vietnam’s southern province of Long An, state media quoted Eun Ho Seung, Korindon chairman as saying.

 

Korindo will cooperate with Dong Tam Joint Stock Company in a 50-50 joint venture to carry out the project, noted the chairman.

 

The 52,000 s.qm facility, located in the province’s Thuan Dao industrial park, is expected to be operational in the fourth quarter of 2008, he said.

 

In late August, Eun Ho Seung is scheduled to work with Long An’s authorities and Dong Tam officials for the project’s detail.

 

Vietnam does not have sufficient cold storage facilities to efficiently manage the export of frozen seafood, the country’s third largest export product. Currently, 30 per cent of the country’s frozen seafood spoils, said statistics of InfraCo and Antara Holdings (Asia) Ltd. (Vietnam Economic Times, www.infraco.com)