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Malaysia’s Felda Global Ventures (FGV) is planning a US$297mn investment in Cambodia’s plantation sector
FGV is eyeing sugar, palm oil and rubber plantation businesses in Cambodia and might venture into an integrated livestock project in the future, a company source said.
The source added that FGV has been looking to spread its investment and is targeting countries that are economically viable and growing and finds Cambodia a good fit for expansion.
“The Cambodian government has been talking to several international planters, including FGV, to develop agriculture land and plant oil palm, rubber trees, sugar cane, and cashew nuts. There is a huge potential for growth in Cambodia,” it added.
Tan Sri Mohamed Isa Abdul Samad, chairman of FGV, had said in 2011 that the FGV management was negotiating with the Cambodian authorities, following an offer to open up 160,000ha in the country.
The company incorporated FGV CVC Cambodia Pty Limited, in which it owns a 75 per cent stake through its 100 per cent-owned unit FGV Cambodia (L) Pte Limited.
FGV CVC, located in the Tbong Khmum province, is currently involved in the processing and marketing of processed rubber.
Samad said Cambodia would be an ideal destination for FGV’s rubber plantation and mills expansion plan via smallholders’ schemes.