An inauguration ceremony was held in Sombour district in Cambodia’sKratie province on May 26 to launch the largest integrated sugar,ethanol and thermal power facility in the country.
The project is invested by the Kamdhenu Ventures Cambodia Limited(KVCL), a joint venture between foreign businesses, in which Vietnameseinvestors hold a 51 percent stake.
The ceremony wasattended by Cambodian Deputy Prime Minister Yim Chhay Ly, VietnameseMinister Councellor to Cambodia Lai Xuan Chien and Indian Ambassador toCambodia Dinesh K.Patnaik.
According to KVCL, the 90.7 millionUSD facility is among the largest foreign-invested projects inCambodia. Over 70 percent of the investment (65.4 million USD) issourced by loan from the Bank for Investment and Development of Vietnam(BIDV) and BIDV’s affiliate in Cambodia - BIDC.
The complex covers an area of 7,635 hectares, including 7,585 hectaresof sugar farms, and has designed capacity of 3,500 tonnes of sugar caneand 30,000 liters of ethanol a day, plus a 20MW power station.
The project is expected to employ 500 workers and generate an average 23 million USD in revenue each year.
Addressing the ceremony, Deputy Prime Minister Yim Chhay Ly said thefactory, the result of an initiative proposed by the Cambodian PrimeMinister to Vietnam, is a symbol of the friendship and cooperationbetween the governments and peoples of the two countries.
He appreciated the role of the Association of Vietnamese Investors inCambodia in promoting investment in Cambodia in various fields,including economic development, especially poverty reduction.
The same day, the Vietnamese-invested Five Star InternationalFertiliser Company signed with KVCL an agreement of fertiliser supplyfor sugar cane farming.-VNA
The project is invested by the Kamdhenu Ventures Cambodia Limited(KVCL), a joint venture between foreign businesses, in which Vietnameseinvestors hold a 51 percent stake.
The ceremony wasattended by Cambodian Deputy Prime Minister Yim Chhay Ly, VietnameseMinister Councellor to Cambodia Lai Xuan Chien and Indian Ambassador toCambodia Dinesh K.Patnaik.
According to KVCL, the 90.7 millionUSD facility is among the largest foreign-invested projects inCambodia. Over 70 percent of the investment (65.4 million USD) issourced by loan from the Bank for Investment and Development of Vietnam(BIDV) and BIDV’s affiliate in Cambodia - BIDC.
The complex covers an area of 7,635 hectares, including 7,585 hectaresof sugar farms, and has designed capacity of 3,500 tonnes of sugar caneand 30,000 liters of ethanol a day, plus a 20MW power station.
The project is expected to employ 500 workers and generate an average 23 million USD in revenue each year.
Addressing the ceremony, Deputy Prime Minister Yim Chhay Ly said thefactory, the result of an initiative proposed by the Cambodian PrimeMinister to Vietnam, is a symbol of the friendship and cooperationbetween the governments and peoples of the two countries.
He appreciated the role of the Association of Vietnamese Investors inCambodia in promoting investment in Cambodia in various fields,including economic development, especially poverty reduction.
The same day, the Vietnamese-invested Five Star InternationalFertiliser Company signed with KVCL an agreement of fertiliser supplyfor sugar cane farming.-VNA
