Gemadept spends $27.7m on rubber in Cambodia

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The Gemadept Corporation will carry out a US$27.7 million project to plant and exploit rubber in Cambodia.

The Gemadept Corporation will carry out a US$27.7 million project to plant and exploit rubber in Cambodia. — Photo cafef.vn

HA NOI (Biz Hub) — The Gemadept Corporation will carry out a US$27.7 million project to plant and exploit rubber in Cambodia.

The project, which has recently got permission from the Viet Nam's Ministry of Planning and Investment, covers an area of 9,773ha in which the rubber plantation area is 7,746ha.

In 2015, Gemadept's management board approved a plan to set up a new firm named Pacific Pride Jsc to grow rubber in Cambodia, bringing the total to three rubber plantation subsidiaries in the country.

Gemadept's major fields include port operation, logistics, rubber plantation and real estate. In the last quarter of 2015, its revenue reached VND927.9 billion ($41.4 million) and pre-tax profit reached VND111.04 billion.

The company has been listed on the HCM Stock Exchange since 2002. It was honoured as one of 500 biggest firms in Viet Nam by the Viet Nam Report company last year. — VNS

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