Cambodia’s largest sugar factory operational
An inauguration ceremony was held in Sombour district in Cambodia’s
Kratie province on May 26 to launch the largest integrated sugar,
ethanol and thermal power facility in the country.
An inauguration ceremony was held in Sombour district in Cambodia’s
Kratie 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 Vietnamese investors hold a 51 percent stake.
The ceremony was attended by Cambodian Deputy Prime Minister Yim Chhay Ly, Vietnamese Minister Councellor to Cambodia Lai Xuan Chien and Indian Ambassador to Cambodia Dinesh K.Patnaik.
According to KVCL, the 90.7 million USD facility is among the largest foreign-invested projects in Cambodia. Over 70 percent of the investment (65.4 million USD) is sourced 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 hectares of sugar farms, and has designed capacity of 3,500 tonnes of sugar cane and 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 the factory, the result of an initiative proposed by the Cambodian Prime Minister to Vietnam, is a symbol of the friendship and cooperation between the governments and peoples of the two countries.
He appreciated the role of the Association of Vietnamese Investors in Cambodia in promoting investment in Cambodia in various fields, including economic development, especially poverty reduction.
The same day, the Vietnamese-invested Five Star International Fertiliser Company signed with KVCL an agreement of fertiliser supply for sugar cane farming.-VNA
The project is invested by the Kamdhenu Ventures Cambodia Limited (KVCL), a joint venture between foreign businesses, in which Vietnamese investors hold a 51 percent stake.
The ceremony was attended by Cambodian Deputy Prime Minister Yim Chhay Ly, Vietnamese Minister Councellor to Cambodia Lai Xuan Chien and Indian Ambassador to Cambodia Dinesh K.Patnaik.
According to KVCL, the 90.7 million USD facility is among the largest foreign-invested projects in Cambodia. Over 70 percent of the investment (65.4 million USD) is sourced 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 hectares of sugar farms, and has designed capacity of 3,500 tonnes of sugar cane and 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 the factory, the result of an initiative proposed by the Cambodian Prime Minister to Vietnam, is a symbol of the friendship and cooperation between the governments and peoples of the two countries.
He appreciated the role of the Association of Vietnamese Investors in Cambodia in promoting investment in Cambodia in various fields, including economic development, especially poverty reduction.
The same day, the Vietnamese-invested Five Star International Fertiliser Company signed with KVCL an agreement of fertiliser supply for sugar cane farming.-VNA
You should also see
Energy industry needs nearly 5 trillion VND of investment in 2021-2030
The total investment capital demand for the whole energy sector in the 2021-2030 period is between 4.13-4.8 trillion VND (163.01-189.46 million USD), according to a plan to implement the National Power Planning in the 2021-2030 period with a vision to 2050.
See more
Business
Ample room for Quang Ninh to attract FDI
The northeastern province of Quang Ninh has ample room to attract foreign direct investment (FDI) and realise the goal of attracting 3 billion USD in FDI this year and 10 billion USD in the 2020-2025 period.
Business
Long An, Dong Nai introduce strengths in RoK
The southern province of Long An and Dong Nai introduced their investment climate as well as socio-economic development orientations at an investment promotion conference held in the Republic of Korea (RoK) on April 26.
Business
Vietnam makes initial efforts to approach creative industries: CIEM
Vietnam has made initial efforts to approach creative industries and services, particularly a policy framework related to creative economy development, according to a new report released by the Central Institute for Economic Management (CIEM).
Business
HCM City wants to become major partner, customer of NVIDIA: Official
Chairman of the People’s Committee of Ho Chi Minh City Phan Van Mai has told the Vice President of Worldwide AI Initiative at NVIDIA, Keith Strier that the city wants to become a major and good partner and customer of the firm in Vietnam.
Business
Revenue on top five e-commerce platforms jumps 79%
The e-commerce market of Vietnam was robust in the first quarter of this year with total revenue of the top five platforms, including Shopee, TikTok Shop, Lazada, Tiki and Sendo, reaching more than 71 trillion VND (2.79 billion USD), an increase of 79% over the same period last year, according to a recent report by Metric.
