April 25, 2024

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[THE INVESTOR] CJ CheilJedang said on Nov. 10 that it has completed a factory in Yangon, Myanmar, that can manufacture 20,000 tons of cooking oil a year.

This is the first modern, automated edible oil factory in the country where no companies have a plant despite the size of the market that amounts to 1.3 trillion won (US$1.12 billion), according to the company. 

CJ is planning to expand into processed food and post 130 billion won revenue by 2020.

In Vung Tau, Vietnam, the food and bio heavyweight has built a fermented soybean oil meal plant that can manufacture 26,000 tons of soybean-based feed ingredients annually.

CJ will increase the local production capacity to 150,000 tons a year to exploit the second largest fermented soybean oil meal market in the region.

CJ CheilJedang has been strengthening its presence in Southeast Asia this year, taking over Ong Kim’s, a Korean-Vietnamese kimchi making company and signing a memorandum of understanding with Vietnamese state-run distribution company Saigong Trading Group for expansion in the food business.

By Hwang You-mee (glamazon@heraldcorp.com)