Cargill Invests $70M to Meet Rising Global Demand for Seafood
Company sees significant business growth in Thailand
Cargill has invested more than $70 million in Thailand to meet the rising global demand for seafood and poultry, David MacLennan, the company’s chairman and chief executive officer, said yesterday.
The Nation reports the investment, for the fiscal year June 2018 to May 2019, aims to focus on technology implementation in the poultry supply chain, provide additional funds for research and development in the aquaculture industry and expand the cooked poultry facility in Nakhon Ratchasima province.
The funds were also earmarked to upgrade and refurbish its aqua feed production plant in Phetchaburi province.
MacLennan explained the company sees significant business growth in Thailand, adding that the poultry business makes up nearly 80% of Cargill’s operations in Thailand.
The investment is also part of the company’s global innovation strategy to leverage technology, in order to meet the needs of its partners and customers.