The company was established in Thuan An town at an estimated cost of VND20 billion (US$940,000).
Vietcashew has the capacity to process between 5,000 and 7,500 tonnes of cashews each year, and is expected to bring in annual revenue of US$30 million.
Hapro Chairman Nguyen Huu Thang said the establishment of Vietcashew not only sharpens the competitive edge of Vietnam’s cashew industry, but also raises the group’s cashew export revenue target from US$38.5 million in 2013 to US$70 million in 2016.
Hapro’s main businesses are export/import, domestic retail services and trade infrastructure development.
Its average annual revenue is VND9 trillion (US$423 million).
