Dutch firm to invest in circular cashew nut production model in Binh Phuoc
A Dutch firm has decided to invest 250 million USD in a project in the southern province of Binh Phuoc to develop cashew nut material areas, conduct deep processing, and produce cashew nut shell oil for export.
A farmer in Binh Phuoc harvest fresh cashew nuts (Photo: VNA)
Binh Phuoc (VNA) - A Dutch firm has decided to invest 250 million USD in a projectin the southern province of Binh Phuoc to develop cashew nut material areas, conduct deep processing, and produce cashew nut shell oil for export.
Representatives from the Mekong Cooperation EUROPE BV (MCE) of the Netherlandsand the An Viet Phat (AVP) One-Member Co. recently held a working session withprovincial officials to discuss the project, which will be implemented underthe form of the circular economic model.
General Director of MCE Nguyen Thanh Tan said the joint venture willdevelop a 200,000-ha materials zone, a 200-ha plant processing cashew nuts witha capacity of 168,750 tonnes a year, and two plants producing refined cashewnut shell oil for export and cashew peel residue, with a capacity of 118,125tonnes a year each. The three plants will cover a combined area of 50 ha.
The MCE-AVP joint venture will also build a factory to produce wood pellets forexport, with total investment of 45 million USD, which is expected to produce225,000 tonnes of products a year.
Tan said the cashew material area will be developed in line with Europeanorganic standards, while by-products such as cashew nut shells will be used foroil production and poor cashew plots used to produce wood pellets for export.
The representative from MCE said that after an experimental planting area isdeveloped, the enterprises will sign deals with farmers via cooperatives todevelop raw material areas in accordance with international standards.
✃ Vice Chairman of the provincial People’s Committee Tran Van Mi affirmed that localauthorities will create favourable conditions for the two businesses to implementthe project, adding that an investment license will be handed over this month./.
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A farmer in Binh Phuoc harvest fresh cashew nuts (Photo: VNA) 
