Cambodia and Thailand sign deal to build $50m rice mill
The deal was inked between Sok Puthyvuth, chief executive officer of Soma Group, and Prasit Damrongchietanon, vice-chairman of C.P. Trading Group.
Speaking to reporters after the signing ceremony, Sok Puthyvuth said the joint venture was to invest in constructing a large-scale rice milling and refining factory in Cambodia with an estimated investment of$ 50 million. "The factory will be capable to process 300,000 tons of rice a year."
Mr. Puthyvuth said the factory would begin to produce the best quality rice for global market from the first quarter of 2015.
Prasit Damrongchietanon said, "The joint-venture marks a significant milestone for the Cambodian rice industry as C.P. Intertrade will bring its state of the art expertise in rice milling and refining as well as ready market access to more than 100 countries in the world." ■