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Lao-Indochina Group Ltd to sign up for capital market
The Lao-Indochina Group Ltd, a leading company in the ASEAN member countries in producing cassava flour for export has already signed up for the Lao Security Exchange, a newly established capital market which will fully operate in early 2011.
The sign-up for the capital market of the Lao-Indochina Group Ltd. is to expand its business and elementary production of cassava flour in three new factories in the next three years, Mr Sengmaly Sengbatthana, President of the Lao-Indochina Group Ltd told KPL News reporter last week.
The Lao-Indochina Group Ltd. signed an MOU with the Committee of the Lao Security Exchange Market early last month. But the grand signing ceremony is expected to take place this month. Graduating from China, Mr Sengmaly, 49, who is a pioneer in cassava cultivation promotion and production in Laos, added that the decision making in enrollment in the Lao Security Exchange Market is to increase the current production capacity of only 90,000 tonnes per year to meet customers' demand of 300,000 tonnes per year.
Presently, the company has 5,200 ha of its own cassava plantation, which will be harvested soon. While more than 5,000 ha of local farmers have been signed under a contract farming programme with the company.
The company now buys one tonne of cassava at a rate between 400,000 and 500,000 kip. The cassava flour plant of the Lao-Indochina Group Ltd., the first ever set up in 2007, has a daily production capacity of 250-300 tonnes.
Owing to its operation in a cassava-related business and with care for environment, the company is building a biogas plant and bio-fertiliser product plant which will start producing in the coming year. After finding a large number of fish nearby the plant died, the plant has also spent 9 billion kip on building a water treatment plant, which has just been operating this year.
The plant has a daily buying capacity of about 1,200 tonnes of cassava.
Over the past three years, he said that he was successful and proud of helping low income farmers as well as leading them away from poverty.
kpl lao news agency
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