The Joint Stock Company HALONG Canned Foods (CAN) has decided to relocate its food processing factory in Haiphong due to urban planning. The company returned 5,000 m² of land and received no compensation for the land use rights, only compensation for the structure. Relocating is essential to ensure operational continuity and avoid production interruptions. CAN has leased 20,000 m² of land at Nam Dinh Vu Industrial Park worth 68 billion VND to build a new factory with a total investment of 166 billion VND. The new factory will feature two main production areas for canned meat and vegetables with a projected revenue of 600 billion VND per year. Construction is expected to begin in Q2 2026 and the factory to operate by Q2 2027. To finance the project, the company plans to issue 5 million new shares at 15,000 VND per share, aiming to raise 75 billion VND for construction and equipment purchases. The management is confident about the project’s positive outcomes.
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