|KDC signs MoU with FGV and ITL. — VNS Photo Thu Ngan
HCM CITY (VNS) — Kinh Do Corporation (KDC) yesterday signed a memorandum of understanding on business exploration with Malaysia's Felda Global Ventures (FGV) and Indo Trans Logistics Corporation (ITL).
The three parties will explore the formation of a new joint venture company focusing on production, sales, marketing and distribution of specialty oils and palm-based consumer-packed goods for the Vietnamese market.
At the signing ceremony, the three parties said that through strategic partnerships, they will conduct joint discussions over the next six months in identifying strategies to capture the consumer packaged-oils market, leveraging the strength of all parties.
KDC plans to hold 45 per cent of the joint venture. The others will share the remaining 55 per cent. This scale, however, "has not been finalised", according to the parties involved.
They do not plan to build a new factory in Viet Nam, according to KDC.
The company would firstly focus on trading raw materials used to produce oil. The next step will be producing and selling oil products.
The targeted clients would be oil cooking producers, industrial clients, consumers, hotels and restaurants. — VNS