Vietnam invests in largest sugar project in Cambodia
Vietnam invests in largest sugar project in Cambodia
The largest complex of sugarcane, ethanol and thermal power plants in Cambodia was inaugurated in Okrieng commune, Sombour district, Kratie province on May 26.
Addressing the ceremony, Cambodia’s Deputy Prime Minister Yim Chay Ly emphad that the complex inauguration in Kratie was the outcome of the initiative between the two Prime Ministers of Cambodia and Vietnam.
The main investment came from Kamdhenu Ventures Cambodia Limited (KVCL) whtin the framework of a joint venture between Vietnam and a foreign company.
The factory, considered as one of the largest foreign-invested projects in Cambodia, has a total investment of around US$90.7 million, including US$25.3 million from KVCL and US$65.4 million from the Bank for Investment and Development of Vietnam (BIDV).
Construction work started in late 2010 on an area of 7.635 hectare with latest advances in Japanese and Indian technologies.
The sugarcane factory is designed to produce 3,500 tonnes of sugar per day while the ethanol and thermal power plants are expected to produce 30,000 litre of ethanol and 20MW per day respectively.
Apart from its economic efficiency, the complex creates thousands of jobs and generates around US$23 million in revenue to contribute to Cambodia’s state budget every year.
Also on May 26, representatives from the five-star international fertilizer group - one of Vietnam’s largest investors in Cambodia and KVCL signed a cooperative agreement to provide fertilizers for development of a sugar material zone.
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