Subscribe Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Mong Reththy to build $32m cooking oil plant

Mong Reththy to build $32m cooking oil plant

Mong Reththy to build $32m cooking oil plant

AGRICULTURAL investment firm Mong Reththy Group and an unnamed Thai company have agreed to invest US$32 million in a joint venture to build Cambodia’s first cooking-oil plant.

Mong Reththy, senator and head of Mong Reththy Group, said yesterday that an agreement had been made, and that the plant would be built in Preah Sihanouk province next year, capable of producing 100 tonnes of cooking oil per day by 2012.

“I think that now is the time for us to build a plant because more and more cooking oil is being imported and used in the country at the moment,” he said.

According to Mong Reththy Group, which operates Cambodia’s biggest palm-oil plantation, the Kingdom currently imports more than 30,000 tonnes of cooking oil worth about $36.5 million per year from Thailand, Vietnam, Singapore and Malaysia.

Mong Reththy said that his company did not want to continue to export raw palm oil while local demand was increasing.

“We will try our best to build the plant because we want our people to have access to products they produce by themselves, instead of using imported ones,” he said.

A feasibility study for the plant was 60 percent complete and should be finished by the end of this year or early next, Mong Reththy said, and according to the results so far, the company would take about 18 months to construct the plant.

The Group, which has a 10,000-hectare palm oil plantation in Prey Nub district of Preah Sihanouk province, has been trying to build an oil plant since it started the palm oil plantation in 1996. As yet, the plants had yielded too little for the operation of a factory, Mong Reththy said.

The amount of raw palm oil the company currently produces – 60 tonnes per day – would still be insufficient for the cooking oil plant to be economically feasible. Therefore, the company would begin expanding its plantations to 30,000 hectares, he said.

Currently, the company’s entire produce is sold to firms from India and Switzerland for around $700 per tonne, he said.


  • Kak Channthy, Cambodian Space Project frontwoman, killed in crash at 38 [Updated]

    Updated 5:05pm, Tuesday, March 20, 2018 Kak Channthy, frontwoman of popular The Cambodian Space Project, was killed Tuesday morning in a traffic accident in Phnom Penh. She was 38. Channthy, the internationally recognised singer-songwriter also known as “Srey Thy”, was reportedly travelling in a tuk-tuk on the city's

  • Australians protest Asean summit visit by PM Hun Sen

    Hundreds of protesters gathered in Sydney’s Hyde Park on Friday to protest against Cambodian strongman Hun Sen, who claimed to have been gifted millions of dollars by the Australian government ahead of a special Asean summit this weekend. An estimated 300 protesters, the majority of

  • One Australian, one Cambodian killed in explosion at military base

    Updated: 5:20pm, Friday 16 March 2018 An Australian tourist and a Cambodian soldier were killed in an explosion on Thursday afternoon at an army base in Cambodia’s Kampong Speu province. The Australian, whom the government initially identified as a technical demining expert in his 40s, and

  • Peeling back layers of prehistory in Battambang

    When the man passed away, he had not yet reached 50. He belonged to a tribe that had settled near the Sangker River in Battambang province, likely cultivating the fields and raising animals. On the side, they hunted for boars, and even turtles, one of which