NZ Allows Vinamilk Expansion

New Zealand’s Ministry of Planning and Investment has licensed Vietnam Milk Joint Stock Company (Vinamilk) to buy a 19.3% stake in Miraka.

The licence will allow Vinamilk a presence in the country with Miraka, which has built a NZD121m (US$86m) powder milk factory on North Island.

The facility, designed to annually produce 32,000t of powdered milk, will begin operations in August 2011, according to vonnews.vn.

Vinamilk predicts demand for fresh milk in the next five years will reach 1.3 billion litres.