11:15 | 30/01/2018 Investment
The Vietnam Rubber Group (VRG) held a ceremony to inaugurate its rubber latex processing plant in Cambodia on January 25.
|Cambodian Deputy Prime Minister Yim Chhay Ly and delegates at the inauguration ceremony - Source: tapchicaosu|
The Chu Se Kampong Thom plant, located in Kampong Thom province, is one of the biggest rubber latex processing plants in Southeast Asia.
The event was attended by Cambodian Deputy Prime Minister Yim Chhay Ly, local authorities, Vietnamese Ambassador to Cambodia Vu Quang Minh, VRG executives, among others.
Addressing the ceremony, VRG CEO Tran Ngoc Thuan said, the inauguration of the plant forms part of activities to implement the joint agreement between the Governments of Vietnam and Cambodia on developing 100,000 hectares of rubber trees in Cambodia, creating huge economic benefits and jobs for local people.
On behalf of the Royal Government of Cambodia, Deputy Prime Minister Yim Chhay Ly lauded the socio-economic values of VRG’s projects in Cambodia.
Over the past ten years, the group has planted nearly 90,000 hectares of rubber trees in eight provinces of Cambodia, worth nearly US$700 million.
The Chu Se Kampong Thom plant is VRG’s third plant in the country, with the annual designed capacity of 21,500 tonnes. The figure is expected to be raised to 45,000 tonnes by 2022.