Tata Coffee Vietnam Company Limited, a 100% subsidiary of Tata Coffee, unveiled their state-of-the art freeze-dried coffee production plant Vietnam, at a grand ceremony held on 6th March 2019. Situated at the Binh Duong province of Vietnam, it denotes a very significant first for Tata Coffee. This is the Company's third manufacturing plant, after Theni and Toopran in India and is the first one to be set up at an off-shore location. The Grand Opening ceremony was attended by Party Secretary-of Binh Duong Province, Chairman of Binh Duong People's committee, the Indian Ambassador to Vietnam, Consulate General of India to Vietnam, Tata Coffee Board of Directors, MD & CEO .of Tata Global Beverages, Leadership of Tata Sons, Key stake holders, representatives from VSIP and other dignitaries from Binh Duong province.
Along with the Vietnam Singapore Industrial Park (VSIP), Tata Coffee Vietnam Company Limited hosted the ceremony at VSIP II Binh Duong. This 5000 MTPA plant has been set up within 19 months from its Ground-Breaking Ceremony (16th August 2017). The Factory has had an exemplary safety record completing almost a million-man hours construction and commissioning work with zero harm. The site is certified for LEED (Leadership in Energy and Environmental Design) and is expecting BRC (British Retail Consortium) shortly.
Tata Coffee Vietnam is uniquely positioned to work closely with customers to develop exclusive blends at its pilot plant.
Sanjiv Sarin, Managing Director & CEO of Tata Coffee Ltd., said, "The Tata group already has a close relationship with Vietnam in various sectors - including automobiles, steel, trading, energy and watches. While our products are already exported to over 40 countries across the globe, our Instant Coffee has so far been produced only in India. Globally Freeze Dried Coffee is a growing segment and Tata Coffee Vietnam marks our first foray beyond Indian shores as a manufacturer of premium Freeze-Dried Coffee - and is a significant milestone in our journey to becoming a global coffee major. Tata Coffee Vietnam will endeavor to bring best in class manufacturing, with a focus on sustainability and safety.
Tata Coffee Vietnam will contribute positively to Vietnam through foreign exchange earnings and creating local employment".
Shares of TATA COFFEE LTD. was last trading in BSE at Rs.90.7 as compared to the previous close of Rs. 90.8. The total number of shares traded during the day was 50654 in over 495 trades.
The stock hit an intraday high of Rs. 91.95 and intraday low of 90. The net turnover during the day was Rs. 4605345.