Filtering "millions of dollars" from residuals

DNHN - Tourism Investment and Fisheries Development Joint Stock Company (Trisedco), a pioneer in contributing to wholly new value enhancement for Vietnam's processing industry, provides a solid foundation and expects growth opportunities when the post-Covid integration door is thrown open.

Developing despite adversity

Looking back to 2008, when the financial crisis and economic catastrophe hit Vietnam, it was also the year when Trisedco was founded. Because the industry of producing pangasius by-products was still relatively new at the time, there were numerous uncertainties and even misgivings regarding its viability. That was a time when the corporation had to deal with a lot of obstacles and hurdles. Trisedco, on the other hand, has continued to thrive thanks to sound policies and plans, as well as strong support from its parent company, Sao Mai Group.

In the context of supply chain disruptions, loss of liquidity, and production maintenance costs, the Covid-19 pandemic resurfaced in 2021, posing significant challenges for all domestic and foreign enterprises. Despite these challenges, Trisedco resolutely overcame them to achieve impressive growth numbers. 

The company entered the Top 500 Vietnamese Largest Enterprises and the Top 20 Famous Vietnamese Brands at the conclusion of the financial year 2021, with sales of VND 2,260 billion, up 4.3% from the previous year. This is a worthy reward for the company's efforts in improving the value of catfish over the course of more than a decade of growth.

Trisedco has increased its charter capital by more than 18 times after 14 years of participating in the processing of fish meal and fish fat. At the same time, the processing capacity was increased threefold, with three production lines capable of processing 470 tons of raw materials per day, a high-grade cooking oil refinery capable of processing 100 tons of fish oil per day, and one production line capable of producing shortening, margarine, etc.

Trisedco is now the top supplier of new products from pangasius by-products in both the Vietnamese and international markets.

Panning out

Trisedco is about to offer a range of novel products in 2022, welcoming the business opportunity generated by the pandemic. Fish sauce made from fish blood and premium broth mix made 100% from fish are two products that have a strong homeland flavor. 

Trisedco's investment in technology to make seasoning and fish sauce from pangasius, according to Mr. Le Van Lam, General Director, is a very unique and unparalleled innovation. If these two new compounds are extracted successfully, they will help enhance the value of pangasius by 12-15 times. This project is part of Trisedco's comprehensive seafood investment strategy. At the same time, it is a step ahead in the closed process of producing pangasius, from farming to processing and collecting all by-products, in order to ensure the long-term viability of Vietnam's seafood industry. 

Trisedco also made an impression on the export market when it inked a buy and sale agreement with NESTE ASIA PACIFIC, Singapore's largest biodiesel producer, with a monthly need of 8,000 tons of pangasius fat. Trisedco will use this collaboration to investigate a new section of the pangasius by-product industry: the manufacture of Biodiesel from fish fat. This will provide Trisedco with a strong base on which to expand and deliver green fuel to both domestic and international markets. 

Despite overcoming significant obstacles, Trisedco remains committed to its goal of creating new value for the pangasius by-product industry. Trisedco works tirelessly to achieve new objectives, propelling Vietnam's seafood industry forward.

Filtering "millions of dollars" from pangasius by-products, changing the fortunes of billions of dollars in seafood from its residue, in order to bring quality products to the domestic and international industrialized cosmetic and pharmaceutical product markets, which are hungry for fresh and clean raw materials.

Quoc Hung