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Masan opens $53 million factory in north

Released at: 10:43, 12/11/2015

Masan opens $53 million factory in north

Nghe An factory to produce instant noodles and fish sauce for the northern region and cut down on Group's logistics costs.

by Minh Tuyet

A new factory belonging to the Masan Group, called Masan MB (MMB), was opened on November 11 in Nghi Loc district, northern Nghe An province. With VND1.2 trillion ($53.59 million) in investment on an area of 6.3 ha within the Nam Cam Industrial Zone, it will produce instant noodles and fish sauce.

It is the first fish sauce production facility of Masan in the north of Vietnam. The current designed capacity is 600 million instant noodles packs per year and 120 million liters of fish sauce. MMB also meets the Class A standard (the highest in Vietnam) in terms of wastewater treatment and aims to conform to HACCP, ISO:14000, ISO:9001 and OHSAS:18001 standards by 2016.

Over the course of ten years, running at the full designed capacity, Masan Group expects to save VND400 billion ($17.86 million) in logistics costs compared to transporting products from its southern manufacturing facilities to the north. It also expects to benefit from corporate income tax incentives offered by the province, saving VND3 trillion ($133,980).

The new facility in Nghe An is part of Masan Group’s efforts to establish a deeper manufacturing footprint around Vietnam to be closer to consumers, be better able to manufacture branded food and beverage products that cater to regional tastes, generate economies of scale, and benefit from the latest world-class equipment and practices.

MMB is expected to employ approximately 1,000 workers at the factory and provide opportunities for them to advance to higher skilled jobs and professional positions. Masan Group is also implementing a special program to support the relocation of existing Masan employees who are from Nghe An to return home and work for MMB. As part of its belief in giving back to the communities where it operates, the company will also be launching a scholarship program worth VND200 million ($8,932) for students in the province and will provide them with career opportunities upon graduation.

“The commissioning of Masan MB is special to Masan Group because many of our colleagues are from Nghe An,” Deputy CEO of Masan Group and CEO of Masan Consumer Corporation, Mr. Seokhee Won, said. With MMB the group can make a positive contribution to socio-economic development in the province, he went on. “Masan MB will help us better serve our consumers and is part of our purpose of improving the spiritual and material lives of consumers each and every day,” he added.

Masan Group is one of Vietnam’s largest corporations and a leader in the branded food and beverage sector and the animal nutrition value chain.

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