23 June 2014
Cambodian
rice exporter Soma Group is partnering with Thai agricultural firm CP
Intertrade, in a $50 million rice mill in Kampong Speu province, the companies
announced yesterday.
Construction
of the mill is nearly 60 % complete and will be fully operational within the
first quarter of 2015, with the capacity to produce up to 300,000 tons per year.
And Soma was partnering with CP Intertrade in order to leverage the Thai firms
experience with operating the technology destined for the rice mill, as well as
to help open up new markets for Cambodian rice. Vice chairman of CP Trading
Group, said the new factory was equipped the with close to $20 million worth of
the latest rice-production technology from Japan and the US.
Acting
secretary general of CRF told the Post that the size of the investment alone
will make the new venture a major player in Cambodia’s rice industry. However,
there were still challenges for the sector to overcome on it’s way to the government’s
target of 1 million tons exported by 2015.
Source:
http://www.phnompenhpost.com/business/soma-teams-50m-mill
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