GFPT makes 1 billion baht poultry investment
GFPT, an integrated poultry producer in Thailand, is planning to invest 1 billion baht to set up new broiler and grandparent chicken farms to supply its joint-venture processing plant.
The Bangkok Post reports that the investment is necessary for the company to meet its commitments with its Japanese partner which earlier coinvested to develop a 2.2-billion-baht chicken plant under GFPT Nichirei (Thailand) Co. According to chairman Anan Sirimongkolkasem, the company is required to use only raw poultry supplied from GFPT's farms, not contracted farmers.
The investment will be made in two broiler farms in Chon Buri province, at the same location as the processing plant to save on logistics costs. These farms will have a combined daily production capacity of 35,000 hens or 15 million a year.
GFPT Nichirei's plant in Chon Buri has a capacity to slaughter 100,000 birds per day to produce 1,500 tonnes per month of processed foods. The factory increase its current output for 60% to 85% in August and is aiming for 100% early next year.
GFPT also needs to invest in a grandparent stock farm in order to produce around half a million chicks each week by the end of this year. The target is to be able to produce more than 100 million chicks each year to supply its own farms, as well as other joint ventures such as McKey Food Services (Thailand) Co, which supplies McDonald's restaurants in Thailand and overseas.
GFPT estimated its revenue at 3 billion baht in the first quarter, compared with 2.8 billion in the same period last year. It targets total sales growth of 10% this year to 12.5 billion baht.
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