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