A China's Hainan Agpro Inc, agricultural product and food manufacturer, has been studying the feasibility for a long-term investment in Cambodia's rice sector, said the firm's general manager Zheng Chuan Yi on Thursday.
During a meeting with Heng Samrin, President of Cambodia's National Assembly, Zheng said that the firm was going to invest 500 million U.S. dollars within 10 years in the country's rice industry.
Through the investment plan, the firm would need about 60,000 hectares of land for rice farming, hi-tech post harvest technology and rice storage facilities, he said.
He added that if the plan happens, it would secure Cambodia's capacity to export about 1.5 million tons of processed rice a year.
Zheng asked for support from Heng Samrin in this investment project.
Meanwhile, Heng Samrin said Cambodia welcomed and supported all private investment projects because they have hugely contributed to the social and economic development of Cambodia. He also encouraged the firm to study the feasibility for the project in the western part of Cambodia as the land is fertile and suitable for rice crops.
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