[PHNOM PENH POST]
CANADIA Bank Plc has begun construction on an US$8 million rice
processing facility in Takeo province, aiming to process rice for export
to the international market, company officials said.
Set up in
the province’s Doun Keo district, the mill will be capable of processing
up to 500 tonnes of paddy per day, Canadia Investment Department
Manager Rien Samrith said.
“We want to invest in this province
because of its potential for agriculture, and we want to push people to
produce more rice,” he said.
Construction on the facility began earlier this month, and will be finished by September this year.
The
firm claims to have a three-month timeline to complete the factory, as
operations are to begin in October to meet demand from China, he said.
“We have already connected with business partners from China to export rice to them,” he said.
Takeo
Governor Srey Ban said on Sunday that the province had nearly 100 rice
mills, but most were not able to process the agricultural staple at
international quality.
“We welcome the new investment project,”
he said, adding the province had enough agricultural land to eventually
produce 600,000 tonnes of milled rice yearly.
Canadia is also
setting up a rice mill in Battambang province with capacity of 60 tonnes
per day, with work on the $400,000 facility expected to begin next
month.
Prime Minister Hun Sen has set a target of exporting 1 million tonnes of milled rice by 2015.
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