The Vietnam Dairy Products Joint Stock Company (Vinamilk) will pour VND4 trillion (US$200 million) into two new dairy plants in the southern province of Binh Duong.

The company say the move will help make it one of the world’s top 50 milk producers, with revenues of $3 billion in 2017, from its current position of 53rd.

The first factory is designed to have the capacity to produce 400 million litres annually in the first phase, equivalent to 90 percent of Vinamilk’s current output. It will then increase production to 800 million litres after phase two.

The second factory will produce Dielac 2 formula milk for children with an annual output of 54,000 tonnes.

Vinamilk posted revenues of nearly VND21 trillion in the first nine months of 2012, up 25 percent year on year and fulfilling 76 percent of its yearly target. This figure is expected to reach VND26.5 trillion by the end of this year.