Sunday, February 05, 2017
Brunei-Turkish Joint Venture Food Company
New company set to boost Brunei’s diversification drive
on: February 04, 2017
| Azlan Othman |
BRUNEI Darussalam’s efforts to diversify its economy by creating new business opportunities and attracting foreign direct investments continue to show positive results.
Supporting the Sultanate’s ambitious growth goals, Turkish food manufacturing company Marsa Yag Sanayi Ve Ticaret Anonim Sirketi based in Istanbul is set to open up a margarine manufacturing facility in Brunei Darussalam as part of its regional expansion plans.
The company named Western Foods and Packaging Sdn Bhd (WFP) will begin production in April 2017, the Ministry of Finance said yesterday.
The establishment of Western Foods and Packaging (WFP) in Brunei is expected to leverage the Turkish company’s expertise in producing margarine, oil and fats for the export market.
A joint-venture between the Government of His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam through the Strategic Development Capital Fund of the Ministry of Finance and Marsa Yag Sanayi Ve Ticaret Anonim Sirketi, the project will spur the country’s economic growth in sectors outside oil and gas and create more job opportunities for Bruneians.
Marsa was established in Turkey in 1922.
While the company’s products were initially produced for local consumption, it began exporting in 1969.
The company currently exports products to 60 countries across the world and has a total turnover of over $100 million.
The company’s annual production capacity includes 200,000 tonnes of margarine and 100,000 tonnes of liquid oil mainly from its plant in Adana, the largest in Turkey. The company also produces shortening, sunflower oil, olive oil, ghee, pasta, flour, powder soup, desserts and semolina. Marsa aims to strengthen its global market status through its advanced production technology, world-standard quality and new products.
WFP’s manufacturing facility is built on a 1.9 hectare site in Serasa Industrial Area and set to begin production in April 2017 with a starting production capacity of 200 tonnes per day of margarine.
The main raw material for the production of margarine is palm oil and the finished products will be exported to the Asian region. WFP is currently in the process of getting Halal certification for its plant and its products to cater to Muslim consumers as well as to help promoting Brunei Darussalam’s Halal logo internationally.
WFP is also looking into downstream opportunities for its products which can be used as ingredients to make biscuits, chocolates, pastries and ice cream. Its by-products can be used as chicken feed and to make soap and detergent.
The company, which currently employs 17 people comprising 13 locals and four expatriates, is expected to create 100 jobs for locals when it goes into full production this year.
Courtesy of Borneo Bulletin