Thai company Charoen Pokphand Foods (CPF) has revealed plans to invest $3 million in an expansion in the neighbouring country of 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 surveying suitable areas in several provinces for the mills and farms, which will be established 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, which is undergoing registration in Laos, to be completed this year. CPF has been investing in foreign markets for about five years now.
The company’s board of directors approved investments in pig and poultry operations in Russia this year.
â€¢ Charoen Pokphand Foods (CPF)