HLH Agriculture Co Ltd said Wednesday that Singaporean investors have provided US$15 million for corn production in Kampong Speu province to boost exports to Asian and European markets.
Rort Veasna, a purchasing officer for HLH, said an agreement was reached last year for investment in corn plantations on 450 hectares of land in the Thpong district of Kampong Speu, and an additional 10,000 hectares in Oral district have been added this year.
"We have purchased five German planting machines and two Chinese drying machines, which are capable of processing 300 tonnes of corn per day," Rort Veasna said.
HLH purchases corn from local farmers for export, and the $15 million investment would be devoted largely to expanding production in Cambodia, Rort Veasna said.
Mao Thora, a secretary of state at the Ministry of Commerce, was unavailable for comment on Thursday, but he said earlier this month that the government was looking for additional corn markets in Vietnam.