Israeli drip irrigation giant Netafim has signed a contract worth some NIS 65 million with the Vietnamese Vingroup corporation's VinEco agricultural firm, Netafim announced on Wednesday.
Part of the $3.2b. Vingroup, which predominantly specializes in real estate, tourism, entertainment, retail, education and health, VinEco is a new addition to the Vietnamese corporation that focuses on producing high quality food products. Netafim will be providing a variety of tools and services to VinEco's greenhouses, including irrigation and control systems, construction, maintenance and supervisions, the Israeli company said.
"This deal is one of Southeast Asia’s largest greenhouse projects and significantly strengthens our activity in Southeast Asia," said Ran Maidan, CEO of Netafim. "Over the last few years, we've seen increased modernization in the agricultural sector in general, and in greenhouse and irrigation in particular.”
Today, Netafim has 28 subsidiaries and operates in 110 countries worldwide, including in Vietnam. Established in 1965, the firm recently celebrated its 50th anniversary.
"We're proud to be partnering with Vingroup, one of the leading concerns in the region, and are confident in a long and fruitful relationship," Maidan added.