|The cooking oil production line of Tuong An Vegetable Oil Co. (Photo: T.C.)|
Tuong An Vegetable Oil Joint-Stock Company (Taoil) is speeding up the construction of Phu My Cooking Oil Factory in Phu My Industrial Park in Ba Ria – Vung Tau Province (capacity 600 tons/day) with the total invested capital of VND 330 billion.
The factory is close to the seaport which is convenient for import export activities, saving transporting cost and input cost as the consumption of local natural air source in stead of imported fuel.
This is Taoil’s third cooking oil manufacturing factory and also the factory with strongest capacity in Vietnam with modern equipments and machines, advanced technology, constructed under food sanitary safety standard GMP and HACCP.
Taoil has had positive preparation for the international integration process when Vietnam pledged to reduce import-export tax for refined oil to 5% since 2006 from 30% - 50% in 2003, which faced domestic cooking oil manufacturers with hardly competitive pressure from the world and region countries.
Phu My Cooking Oil Factory is anticipated to come into operation in the second quarter of 2007 and will double Tuong An’s present total capacity.