Hyandai invests $4m into Cambodian mango processing facillity
A local subsidiary of the Hyundai Corporation, the South Korean conglomerate, is sinking $4 million into developing a processing and distribution center in Cambodia for mangoes and other fruits. Last November, Hyundai CNF Inc., inked-in a deal with local mango producer Mao Legacy Co Ltd., to establish the facility in Kampong Speu province.
“We invested $4 million into an exporting system and facility to produce high-quality mangoes for export to the global market,” Lee Changhoon, representative for Hyundai Corporation (Cambodia) Co Ltd, said yesterday.
The commercial facility will wash, process and package mangoes grown on Hyundai’s 400-hectare plantation, as well as Mao Legacy’s 2,000 hectares of mango farms. A planned expansion will add processing lines.
“To add value, we plan, in the next step, to set up another facility for drying and freezing mangoes to produce juice, jams, etc,” Lee said.
He added that the synergies of the two companies – Mao Legacy’s network of farms producing high-quality mangoes and Hyundai’s global presence – should readily open new markets in Europe, Asia and the Middle East for premium Cambodian mangoes. The first shipments are expected by the end of the year.
“Firstly we will focus on the Korean and Japanese markets,” he said, adding that the government signed a memorandum of understanding (MoU) with South Korea in December 2015 to begin official exports, while Japanese market regulations were similar to those of South Korea.
source: phnmpenhpost.com
