On April 21, the Department of Industry and Trade of Lam Dong province said that the unit had just reported on a difficult project that needed to be resolved with non-budgetary capital.
Through the survey, there is 1 project under the management of the Department of Industry and Trade that needs to be resolved. That is the Da Huoai cashew processing factory with a capacity of 5,000 tons of raw materials/year.
The Da Huoai Cashew Processing Factory was established by Lam Dong Cashew Processing Export Processing Company (LADOCASHEW) in 2012. The predecessor was the Da Huoai Cashew Processing Factory under Lam Dong Food Company.
In 1994, Lam Dong Food Company built a Da Huoai cashew processing factory - Capacity of 1,000 tons of raw materials/year.
By 1997, the factory's production capacity was increased to 2,000 tons of raw materials/year. By 2002, the factory was expanded, increasing its capacity to 5,000 tons of raw materials/year.
In 2012, the Board of Directors of Lam Dong Food Joint Stock Company decided to establish Lam Dong Export Processing and Processing Company with a charter capital of 15 billion VND. Owner 100% of capital of Lam Dong Food Joint Stock Company.
From 2012 - 2021, the project has been operating well, the products are mainly exported to Japan, China, Australia, the US, and the EU.
In 2022, 2023, due to the impact of the Covid-19 epidemic, the loan exchange rate will fluctuate strongly, export revenue will decrease, and it is necessary to take precautions to reduce high inventory prices, along with falling selling prices, leading to losses. By March 31, 2024, the company's total loss reached 30.2 billion VND.
Therefore, the Company's Board of Directors has a Resolution approving the plan to merge Lam Dong Export Processing and Processing Company into Lam Dong Food Joint Stock Company.
Currently, Lam Dong Food Joint Stock Company has completely stopped the processing of export products. The Da Huoai cashew processing factory is no longer in operation, all facilities at the factory are abandoned, not put into production and business since April 2024.
The total State land area for the project leased is 18,096m2, with a land use period until June 13, 2062. The project's remaining facilities: Office 360m2; warehouse 2,034m2; factory 4,017m2; Drying yard 1,640 m2; internal road: 2,892m2 and specialized machinery for cashew processing.
The company has a plan to calculate an investment cooperation plan, but so far there has not been a specific plan and has not been able to call for investors to contribute capital to the consortium.
To improve the efficiency of public land use, avoid wasting invested assets and consuming cashew nuts in the locality, the Department of Industry and Trade recommends that the Department of Agriculture and Environment preside over and coordinate with departments, branches and localities to review and inspect the land use for the land area of Lam Dong Cashew Processing Export Company Limited to build a Da Hoai cashew processing factory to promptly report to the Provincial People's Committee for consideration and direction.
