THAILAND CPRAM to invest US$85 million in bakery plant March 2021
CPRAM Co, part of the giant Charoen Pokphand Group, is pumping Bt 2.6 billion (US$84.6 million) to build a new bakery factory over a 4-acre site in Pinthong Industrial Estate, near Chon Buri province. The new plant is scheduled for opening in June 2022.
Its Managing Director Wisade Wisidwinyoo said the investment was postponed from last year due to the pandemic.
The new plant will have a production capacity of 1.2 million fresh bakery items daily and will support the company's growing bakery business over the next 3 years. The plant will supply mainly to customers in the eastern region. It will also produce frozen dough to meet nationwide demand.
Presently, CPRAM has 15 food factories in the country with 5 producing bakery products.
Meanwhile, in the medium term it is also considering the plan to invest Bt 1.5 - 3 billion (US$46-92 million) in a new factory for RTE food in Thailand. Construction for this plant is projected to start in 2023 the earliest. CPRAM already has 6 RTE food factories in the country producing up to 1.8 million RTE meal boxes daily and 4 million pieces of dim sum and other foods daily. Wisade is optimistic of the growth of RTE food as more consumers adopt busy work lifestyles.
In addition, with growing consumer awareness of health and environmental concerns, CPRAM has developed ‘VG for Love’ plant-based menus to capitalise on this trend. At present, 10 VG for Love menus are available through 7-Eleven online channel and 5 Makro Cash & Carry stores. The company projects Bt 100 million (US$3.25 million) in sales from these menus in 2021, which will skyrocket to Bt 500 million (US$16.3 million) in 2022 and Bt 1 billion (US$32.6 million) by 2023.
Wisade expects CPRAM's sales in 2021 to increase by 10% to Bt 21.3 billion (US$693 million).
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