[10 Feb] Vietnam Rubber Group to Expand in SE Asia, Possibly South Africa

State-run Vietnam Rubber Group said Tuesday it will expand its rubber plantations in Laos, Cambodia and Myanmar to 100,000 hectares by 2012.

VRG is also mulling the development of rubber plantations in South Africa, it said in a statement.

The company said it has acquired land in Laos and Cambodia for the plan, and is in talks on land acquisition in Myanmar.

VRG said it will need VND10 trillion ($540.5 million) to invest in its rubber plantation, wood processing and hydropower plant projects this year.

It will sell shares in its units to fund 50% of the investment needed, it said.

(Source: irco.biz)