[07 Jan] Chinese Company Invests US$ 3 million in Rubber Plantation

The Yunnan-Oudomsay Samsao Jin Mao Company has invested US dollars three million in rubber tree plantation project in Oudomsay province. An agreement on the investment was signed here on December 30, 2009 by Ms. Khammy Souksavath, Chief of Beng district on behalf of the Oudomsay Committee on Investment Promotion and Management and Mr. Wang Zhenli, President of the Yunnan-Oudomsay Samsao Jin Mao Company. Mr. Sonesou Amphay, standing member of the Oudomsay

Provincial Party Committee, and relevant officials witnessed the signing ceremony.

The project area covers a total area of 2,589 ha in five villages in Beng district, namely Khone, Sakhoi, Tongthoune, Phoulay and Chanmay. Oudomsay province has granted a 40-year land concession to the Chinese investment company to implement its project activities, ranging from planting rubber trees and processing and exporting latex to China.

(Source: irco.biz)