Hung Vuong Corporation (HVC), Vietnam’s largest seafood processing and exporter has awarded about US$20 million (RM78.66 million) worth of contracts to Cycleworld Corporation (CWC), a whopping 60,000 tonnes automated cold store project. Cycleworld will supply Insulated panels and Automated Storage and Retrieval Systems (ASRS) to HVC.
HVC posted US$700 million in revenue last year from exports in the fish and prawn industry, while US$500 million is earned through their fish-feeding business.
HVC president Duong Ngoc Minh reported that “Hung Vuong has targeted to generate US$60,000 per day and US$1.8million per month in rental yield for the new warehouse, which would amass to RM84.96 million annually.”
The construction of the warehouse measures about 120,000 cm3 of temperature-controlled space on a land space across 7,600 m2, in Ho Chi Minh City, Vietnam.