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Drip and smart irrigation solutions provider Netafim has signed a US$17mn agreement with Vietnam’s Vingroup
The agreement covers the supply of greenhouse structures, drip products, climate control systems, crop growing platforms and other agronomic support services to Vingroup’s newly-formed agricultural subsidiary VinEco.
This is the first deal that has been signed between the two companies and represents Vingroup’s investment in Vietnam’s agricultural sector, stated Netafim.
VinEco will carry out the project, which is the first of several large-scale agricultural projects being planned that will be aimed at providing clean, fresh and high-quality fruits and vegetables to Vietnamese residents.
“This deal is one of Southeast Asia’s largest greenhouse projects and significantly strengthens our activity there,” said Netafim CEO Ran Maidan. “Over the last few years, we’ve seen increased modernisation in the agricultural sector in general, and in greenhouse and irrigation in particular. We’re proud to be partnering with Vingroup and are confident in a long and fruitful relationship. This deal reinforces Netafim’s leadership position in Southeast Asia, and solidifies our commitment to continue delivering smart irrigation solutions globally that enable farmers to grow more with less.”
Netafim is a leader in drip and smart irrigation solutions and provides them to more than 110 countries.