Chinese Company to Invest $500 Million in Cambodia in Rice Farming and Processing
January 3, 2012 (By Oryza News)
China is looking to expand its rice processing capabilities in Southeast Asia as evident from a private food company’s intentions to invest about $500 million in rice processing in Cambodia.
Cambodia’s National Assembly president has held talks with the managing director of the Chinese company about the deal, according to cabinet director for the National Assembly.
The cabinet director revealed that most of the Chinese company’s investments will go towards rice farming, rice milling and warehousing in Cambodia.
“They want to process high-quality milled rice to export as many as 1.5 million tons per year,” he said.
It is expected that the $500 million investment will be spread over 10 years, of which a part will be spent on rice farming in around 60,000 hectares. That’s equivalent to about 2.5% of the 2.65 million hectares of rice that Cambodia farms each year.
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