Sojitz Enters Compound Feed Production and Sales Business in Cambodia
Tokyo, Dec 9, 2011 (JCN) - Sojitz Corp. has entered the feed business in Cambodia by acquiring a 10% interest in Sichuan New Hope Agribusiness (Cambodia) Co. Ltd (New Hope (Cambodia)), a feed manufacturer in Cambodia owned by New Hope Group Co. Ltd (New Hope Group), China's largest livestock and feed company.
New Hope (Cambodia) is located in the Phnom Penh Special Economic Zone in Phnom Penh, has a capital of $6 million and a production capacity of 200,000 tons of compound feed annually. The company began production in May 2011.
Sojitz is investing $600,000 (approximately 46 million yen) in the company. This is the first time that a Japanese company has entered the livestock compound feed production and sales business in Cambodia.
Demand for feed in Cambodia is growing steadily in conjunction with higher demand for meat, and is expected to double from approximately 1.2 million tons in 2008 to 2.5 million tons in 2014. New Hope (Cambodia) is considering an expansion of its plant to boost production capacity even further in the future and aims to become one of the Cambodia's top makers of compound feeds.
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