BANGKOK – Cargill announced on Nov. 26 that the company will invest more that $70 million over the next two years in its poultry and seafood business in Thailand.
The company plans to invest and leverage technology into its poultry supply chain. It will also have additional funds for the Technology Application Center for research and development for the aquaculture industry and the expansion of a cooked poultry facility in Nakornratchasima, in Northeastern Thailand. Cargill will also upgrade an aqua feed production plant located in Petchaburi, Thailand.
“These planned investments demonstrate our commitment to the communities and people of Thailand,” said Dave MacLennan, chairman and CEO of Cargill. “We appreciate the Thai government’s support of direct foreign investment which has allowed companies like Cargill to grow with the Thai economy and community over the last 50 years. By investing in technology innovation, we can make our supply chains as efficient and sustainable as possible — as we work to nourish those in Thailand and around the world.”
Additionally, 1,500 local Thai farmers will also see an investment with agricultural technical knowledge and training.
Cargill also said that the poultry business makes up almost 80 percent of its operations in Thailand and exports to more than 28 countries around the world.
The company said it invested more than $1.15 billion in Thailand over its 50 years in the country. Cargill currently operates 14 facilities in the Southeast Asian country and employs 17,000 people.