Logo of Phnom Penh Post newspaper Phnom Penh Post - Joint sugar venture sees positive testing

Joint sugar venture sees positive testing

Joint sugar venture sees positive testing

A US$115 million joint investment between Cambodia’s agriculture giant Mong Reththy Group and Paris-based sugar trader Sucres Et Denrees is a step closer to finalisation, after lengthy sugarcane testing gave positive results.

Mong Reththy said that his company and SUCDEN were planning to invest $115 million in a 10,000-hectare sugar plantation and factory in Stung Treng province’s Siem Pang district – depending on the outcome of the feasibility studies.

He said the result of the tests, conducted on the sugar cane plants for nearly two years on 30 hectares, showed the sugar levels met the necessary standard for producing sugar.

“We are able to invest in producing sugar for export now because the result of the test is very positive”, he said Tuesday.

However, he added that although the tests showed that sugar could be produced, the investment was still awaiting a transportation costs study.
The planting area is about 550 kilometeres away from Phnom Penh, where the sugar produced would need to go for export. If the plan goes ahead, Mong Reththy said a sugar factory would be built by 2014 and would employ up to 10,000 people.

Eang Sophalleth, personal advisor to the Prime Minister, said France’s ambassador in Phnom Penh, François Desmazières, had asked Hun Sen to support the investment in a meeting on Monday.

MOST VIEWED

  • Hundreds of children in hospital with dengue

    A serious dengue fever epidemic is affecting Cambodia, with nearly 600 children hospitalised in the five Kantha Bopha Children’s Hospitals on Monday alone, a statement posted on the Kantha Bopha Foundation’s official Facebook page said on Wednesday. Because Kantha Bopha Children’s Hospitals provide

  • Banh: The Khmer Rouge worse than sanctions and pressure

    Minister of National Defence Tea Banh said on Thursday that having sanctions and external pressure placed on Cambodia was not worse than life under the brutal Khmer Rouge regime. Tea Banh, who is also deputy prime minister, was speaking to military and ruling party officials

  • Gov’t to probe Chinese exports to US via Sihanoukville

    The government is investigating allegations that Chinese companies are using Chinese-owned special economic zones in Cambodia to export goods to the US and avoid tariffs, said Ministry of Commerce spokesman Seang Thay. The move comes after US embassy spokesman Arend Zwartjes said the US had

  • Using tech innovation to tackle Cambodia’s rampant road deaths

    Cutting corners, rampant phone use, speeding and driving through red lights – these are just some of the reasons why driving in Phnom Penh can often feel like a city-wide game of dodgems. The high death toll on the nation’s roads – combined with several high-profile