Boost for pig feed industry
Chip Mong Group has invested about $60 million in a plant to produce pig feed, with facilities to raise pigs for the Cambodian market.
Its Chip Mong Feed Company aims to reduce imports from foreign countries and provide jobs for hundreds of Cambodians.
Group CEO Leang Khun said the company will produce high quality pig feed at a rate of 200,000 metric tons a year.
Mr. Khun said 70 percent of production will be used for the Chip Mong farm and the rest sold on the local market.
He added that the Chip Mong farm will yield nearly 300,000 pigs a year.
“The establishment of Chip Mong Feed will provide many benefits to the Cambodian economy by providing jobs directly and indirectly for thousands of people and also help reduce imports and increase products produced by Cambodia,” Mr. Khun said.
He said this was a new investment for the Chip Mong Group in a large-scale plant.
Leang Pov, CEO of Khmer Beverage Limited, a subsidiary of Chip Mong Group, said feed imports will continue if there is no investment from local companies.
This, he said, could lead to a loss of economic resources to neighboring countries.
Chip Mong Group is a sizable conglomerate engaging in diverse interests of businesses in Cambodia ranging from property development, beverage, and manufacturing and distribution of building materials including concrete, cement and steel.
Last March, one of Thailand’s leading agricultural groups and a major producer of animal feed built a $30 million factory in the Phnom Penh Special Economic Zone.
Betagro, which makes feed for pigs, ducks, chickens and other animals, set up the factory to meet the growing demand for animal feed in Cambodia.
Vasit Taepaisitphongse, the company’s executive vice-president and group chief operating officer, said Cambodia has a lot of potential for investors in the agriculture market, especially in the animal feed industry, where there is high demand of about 600,000 metric tons per year.
He said the factory is capable of producing about 216,000 metric tons per year and will produce high quality animal feed for pigs, chickens, ducks and other animals under the names of Be-lac, Betagro, Bio and Balance.
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