Rubber Group sets up farms in neighbouring countries
Tuesday, Feb 23, 2010
Saigon Giai Phong (Viet Communist Party)
The Vietnam Rubber Industry Group (VRIG) will invest in growing 100,000 hectares of rubber trees in Laos, Myanmar and Cambodia from now until 2012, said an official.
According to an agreement between the VRIG and the three countries, rubber plantation rental will cost US$7 for one hectare per year in Cambodia and US$30-50 in Laos.
The group is still negotiating with Myanmar.
The group currently has 10,000 hectares of rubber trees in Cambodia and 21,000 hectares in Laos.
The VRIG will need VND10, 000 billion (more than US$500 million) to enlarge the plantation area and invest in processing factories, hydroelectric plants, industrial zones and property.
Fifty percent of the money will be mobilized from the group’s 27 member companies who have 155,000 hectares of rubber trees with a total output of 330,000 tones a year. The group will supply the other half.
According to an agreement between the VRIG and the three countries, rubber plantation rental will cost US$7 for one hectare per year in Cambodia and US$30-50 in Laos.
The group is still negotiating with Myanmar.
The group currently has 10,000 hectares of rubber trees in Cambodia and 21,000 hectares in Laos.
The VRIG will need VND10, 000 billion (more than US$500 million) to enlarge the plantation area and invest in processing factories, hydroelectric plants, industrial zones and property.
Fifty percent of the money will be mobilized from the group’s 27 member companies who have 155,000 hectares of rubber trees with a total output of 330,000 tones a year. The group will supply the other half.
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