Mar 11, 2013

Rice mills and plants to be constructed with Japan investment

Myanmar will construct rice factories with the help of Misuri & Company Ltd. from Japan to produce value added products from rice, according to release from Myanmar Agribusiness Public Corporation Limited (MAPCO).

The joint venture - Integrated Rice Complax Project (IRCP) factories - include milling and processing plants to produce value added rice and rice products. At least 15 locations have been designated as key trading post for the commodities.

The factories will be constructed in both sides of Twantay canal and Dagon Seikkan Special Economic Zone of Yangon region, around the triple region of Pyapon River and Kyaiklat in Ayarwaddy region, Latpadan in Bego region and four places located near Alinlo village and Maezalikone village in Nay Pyi Taw.

“Integrated Rice Complex Project (IRCP) factories including milling and processing plants will be constructed at Nay Pyi Taw, Kyaiklat, Twantay and Latpadan during 2013. The joint venture will be between Mitsuri & Company Ltd. from Japan and MAPCO. The MAPCO will be responsible to construct the infrastructure of them,” Ye Min Aung, Managing Director of MAPCO said.

The plant will value about US$40 million and all five factories will cost US$200 million.

The joint venture company will analyze in 15 places to construct in 15 places and 4 places will be the priority to construct in this year.

The analysis is still under going to construct the rest.

Myanmar will be expected to export 1.5 million tons of rice in 2012-2013 fiscal years. According to statics of Ministry of Commerce, the rice export is the high record in 46 years time in 2012-2013 fiscal years.

Source: Eleven Weekly Media