Companies

Chinese company plans to invest in Cambodia's rice mill

(Xinhua)
Updated: 2010-09-15 11:35

PHNOM PENH - A Chinese Company from China's Guangxi province is planning to invest in Cambodia's rice mill, a government official said Tuesday.

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Eang Sophaleth, spokesperson to Prime Minister Hun Sen told reporters that during a meeting with Hun Sen on Tuesday afternoon, Song Zhenxiong, president of Guangxi Guohong Development Company said that for the first step, his company will invest $5 million for rice mill and the investment scale will be upgraded in the following steps.

Song Zhenxiong was quoted as saying that he had already found a location for his rice mill in Kompong Chhnang province, some 80 kilometers northwest of Phnom Penh.

He said, as planned, his rice mill will be able to produce about 100 tons of processed rice per day.

Eang Sophaleth said Prime Minister Hun Sen welcomed the investment plan and encouraged Song to work closely with local people who are farmers in order to secure sufficient rice for process and exports.

Hun Sen has earlier set year 2015 as a year to export at least one million tons of rice to the world markets.

Some 80 percent of the country's 14 million populations are living in rural areas and are farmers.