Debt-ridden Binh An Seafood Joint Stock Co (Bianfishco) has resumed operations yesterday after closing in February with VND 1.5 trillion (USD 73.2 million) in debt to financial institutions and suppliers.
The company had a new backer, said Bianfishco acting general director Tran Van Tri. The 1,200 workers were back on the job and the firm had inked contracts to export to Canada, France and the United States.
Initially it would produce 100-150 metric tons of tra fish a day, he said.
The re-opening is the direct result of a decision by the HCM City-based Transport Engineering Construction and Business Investment Company to pump VND 500 billion (USD 23.8 million) into Binafishco.
