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VietNamNews

Major Cambodia complex backed by VN investment

Update: May, 28/2013 - 11:50

HA NOI (VNS)— The largest complex of sugarcane, ethanol and thermal power plants in Cambodia was inaugurated in Kratie Province's Sombour District on Sunday.

The main investment has come from Kamdhenu Ventures Cambodia Limited (KVCL), a joint undertaking between Viet Nam with 51 per cent of equity capital and an unspecified foreign partner.

According to the KVCL, the US$90.7 million plant is one of the biggest foreign investment project in Cambodia. They are investing $25.3 million, with the rest coming from the Viet Nam Bank for Investment and Development and its branch in Cambodia (BIDC).

Located in northeastern Cambodia near the Mekong River, the plant spanning 7.635ha – including 50ha for factories – was built with Japanese and Indian technologies in late 2010.

The factories can produce 3,500 tonnes of sugarcane and 30,000 litres of ethanol per day. The thermal power factory will produce 20MW per day.

According to the investor, as well as providing economic benefits, the plant will significantly contribute to social security, employment opportunities and income for local people. More than 500 plant labourers and thousands of workers in the community will benefit, making annual an revenue of about $23 million, contributing to the economic development of Cambodia.

On the same day, Vietnamese Five Stars Group signed a co-operation contract to provide fertiliser to grow the sugar cane in the plant.

Addressing the ceremony, Cambodia's Deputy Prime Minister Yim Chay Ly emphasised that the opening of the complex was an outcome of the initiative between the Prime Ministers of Cambodia and Viet Nam. — VNS


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