On 19 December 2025, Quang Ngai Sugar Joint Stock Company (QNS), Vietnam’s largest sugar producer facility and a leading producer of soybean milk Vinasoy[1], held simultaneous groundbreaking and inauguration ceremonies for three projects in Gia Lai Province with a combined investment exceeding 178.5 million USD to commemorate the 14th National Congress of the Communist Party of Vietnam. These projects include:
(1) The groundbreaking of Phase 2 of the An Khe Sugar Plant, with a capacity expansion to 25,000 tonnes of cane per day and a total investment of 44.45 million USD;
(2) The inauguration of Phase 1 of the An Khe Sugar Plant, with a capacity of 18,000 tonnes per day and an investment of 62.05 million USD, currently accounting for over 20% of Vietnam’s total sugar output; and
(3) The inauguration of Phase 1 of the An Khe Biomass Power Plant, with an installed capacity of 95 megawatts (MWs) and an investment of 72.92 million USD.
Beyond the projects inaugurated on 19 December 2025, the company plans to implement additional investments, including:
(1) The upgrade of the An Khe Biomass Power Plant to a total capacity of 135 MW through the addition of a third turbine. This project adjustment was approved by the Gia Lai Provincial People’s Committee in September 2025; and
(2) The investment in the An Khe Ethanol Plant.
In addition to QNS’s three projects, Gia Lai Province also commenced the construction of several other major projects on the same day, including:
(1) Component projects 1 and 3 of the Quy Nhon-Pleiku Expressway Investment and Construction Project;
(2) A road linking the North-South Expressway to Phu My Industrial Park (nearly 83.5 million USD);
(3) A road connecting National Highway 1 to the coastal route (DT.639) and De Gi Port (over 54.3 million USD);
(4) Binh Nghi Industrial Park (55.4 million USD);
(5) An Artificial Intelligence (AI) Research Center (23.3 million USD);
(6) A mixed-use apartment housing development (133.3 million USD); and
(7) Site No. 2 (Subsection 2-2) of the Nhon Ly-Cat Tien coastal tourism project (Over 98 million USD).
At present, QNS operates 16 subsidiaries, including well-known brands and facilities such as Dung Quat Brewery, Vinasoy Vietnam Soymilk Factory, Biscafun Confectionery Factory, and Thach Bich Mineral Water Plant. In the third quarter of 2025, the company reported net revenue of approximately 102.04 million USD, representing a slight year-on-year decline, while net profit fell by 28.4% to around 14.48 million USD. Over the first nine months of 2025, net profit decreased by nearly 25% to more than 50.1 million USD, on net revenue exceeding 299.2 million USD. For full-year 2025, QNS has set targets of total revenue of 380.1 million USD and profit after tax of 68.03 million USD.
* * * * *
References: 1. The Investor Vafie Magazine, 19 December 2025
2. Nha Dau Tu, 18 December 2025
https://nhadautu.vn/duong-quang-ngai-rot-hon-4700-ty-vao-loat-nha-may-o-gia-lai-d101596.html
[1] The company has developed an integrated sugarcane, sugar and biomass power complex in Gia Lai province for over 25 years
