HAGL Agrico eyes $720M fruit, cattle project in Laos

By Minh Son   February 24, 2024 | 12:10 am PT
HAGL Agrico eyes $720M fruit, cattle project in Laos
Workers examine bananas at a farm of HAGL Agrico. Photo courtesy of the company
Agriculture firm HAGL Agrico plans to invest VND18 trillion (US$720 million) in growing fruits and raising cattle in Laos.

It will grow bananas, mangoes, grapefruit, and durian, and breed cows and gets license for 50 years starting in 2028.

The project will be implemented by Southern Laos Agri, HAGL Agrico’s wholly-owned firm with registered capital of $400 million.

HAGL Agrico recorded losses for three straight years from 2021, and so in February 2024 the Ho Chi Minh City Stock Exchange noted the possibility that its stock could be delisted.

Billionaire Tran Ba Duong became chairman of HAGL Agrico in 2021 replacing Doan Nguyen Duc after acquiring four subsidiaries of the company.

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