Thai Union Feedmill Plc (TFM) plans to invest up to US$55 million to construct a factory in Ecuador.Piyanuch Marittanaporn, chief financial officer at TFM, said the investment includes facility construction and machinery purchases, with project completion targeted for 2028.
The new facility is expected to increase the company's production capacity by 80%. She said the project is securing a shareholder agreement.
The company recognises Ecuador as the world's largest shrimp producer, with an annual output of around 1.5 million tonnes and annual growth of 10-15%, according to chief executive Peerasak Boonmechote.
TFM operates two factories in Thailand, located in Samut Sakhon and Songkhla, and one factory in Indonesia.
Roughly 87% of the company's revenue is from the Thai market and exports, while 9% is from Indonesia.
