KANDAL (VNS)— Viet Nam's Five Star Group yesterday cut the ribbon of its new US$65 million fertiliser plant in Kean Svay District, Kandal Province, Cambodia.
It is the biggest fertiliser plant in Cambodia to date, and will be developed into the most modern fertiliser plant in Southeast Asia.
The plant, covering an area of 10.9 hectares, can produce about 300,000 tonnes of NPK fertilisers per year during phase 1 and will increase to 500,000 tonnes during phase 2.
According to chairman of the Five Star Group Tran Van Muoi, the factory's NPK fertilisers would meet 50 per cent of the demand of Cambodia market, adding that the products of Five Star factory met international standards and were suitable for Cambodia's land and crop plants.
Muoi added that the group would also provide Cambodian farmers with new farming techniques and optimal agricultural production processes to help increase crop yields and productivity.
The plant, a joint venture between the Five Star Group and the Cambodian Investment and Development Company, began construction in December 2009 under the co-operation programme between the two countries.
Speaking at the opening ceremony, Cambodian Prime Minister Hun Sen highly appreciated the investment projects of Viet Nam into Cambodia, including the Five Star's fertiliser plant, which helped create jobs, contribute to Cambodia's budget and social security programmes, while strengthening co-operation between the two countries.
He believed the Five Star Group plant's high-quality products would contribute to the sustainable development of the Cambodia agricultural sector and improve the lives of locals and the prosperity of the country.
The Government of Cambodia encouraged foreign direct investments into the country, he said at the ceremony.
Viet Nam was among the country's top five biggest investors. — VNS