A Japanese company will invest 800 million U.S. dollars in Cambodia to plant castor bean and refine castor oil into bio-diesel, company source said here on Friday.
The Biwako Bio-Laboratory Co., Ltd. from Japan will plant castor bean on 48,000 hectares of land in Kompong Speu and Kompong Cham provinces and then establish a factory to refine castor oil into bio-diesel which is expected to replace gasoline, said Mitsuo Hayashi, Chief Executive Officer (CEO) of the company.
"Now we are waiting for the result of the oil sample test in the laboratory in Japan. We want to know what kind of seeds will be planted to provide high turnouts," he said.
Some 48,000 hectares of castor plants will yield 100,000 tons of castor oil annually and 40,000 tons of bio-diesel after refinery, he said.
The company needs 500,000 hectares of land for the project in 20 years and the Cambodian government is now helping to find land, he added.
Mitsuo is among the 30 representatives of the Japanese delegation currently on visit to Cambodia. Kozo Yamamoto, Deputy Minister of Economy of Japan, leads the team to find investment opportunities here.
Japan is the largest donor country for Cambodia but has little investment in the kingdom.
Source: Xinhua
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