RDIF, Vietnam's TH Group to invest $630 mln in dairy production in two regions - Dmitriev
MOSCOW. May 22 (Interfax) - The Russian Direct Investment Fund (RDIF) and Vietnam's TH Group will invest over $630 million in dairy production in the Moscow and Kaluga regions, according to an agreement signed in the framework of the St. Petersburg International Economic Forum (SPIEF), RDIF chief Kirill Dmitriev said.
"In the framework of the SPIEF, we will announce over 10 deals in various sectors. We will invest over $630 million with TH Milk in state-of-the-art milk production capacity, which will have over 45,000 cows, and all of this will be built in Moscow and Kaluga regions literally within three years," Dmitriev said on Rossiya 24 television.
TH Group is a major producer of dairy products, and its key brand TH True Milk has more than a 50% share of Vietnam's dairy market. TH makes about 50 products (pasteurized milk, kefir, ice cream, yogurt, flavored milk) that it sells in 39 countries.