Booking.com

Indian rice exports Amira Group plans to invest up to 40 million U.S. dollars

Indian rice exports Amira Group plans to invest up to 40 million U.S. dollars in Cambodia’s rice sector, hailing it as the “future of rice in the world,” local media reported on Tuesday.

New Delhi-based Amira Group executive director Protik Guha was quoted by the Phnom Penh Post as saying that the company was looking to put between 30 million U.S. dollars and 40 million U.S. dollars towards setting up a rice-processing plant in the Kingdom — its first outside India — and acquiring 25,000 hectares of agricultural land.

“Cambodia is the future of rice in the world,” he said, adding that “it has abundant paddy in terms of land, and [the investment] makes sense with the duty concession a available for export.”

“We are talking to a couple of local partners, but we are very much at the drawing board stage,” he said.

Kith Seng, under secretary of state at the Ministry of Agriculture, Forestry and Fisheries, was quoted as saying that he had not yet received any information relating to Amirra’s plans, but he said that agricultural investment was welcome. (PNA/Xinhua)

Avast

Leave a Reply