HLH to invest US$6.5 mln in Cambodia agri-business

HLH Group Limited said its subsidiary, HLH Agri International Pte Ltd, has incorporated a unit in Cambodia to invest in integrated agri-business operations.

The unit, H.L.H.I. (Cambodia) Company Limited (HLHI), will invest US$6.5 million to buy 1,791 hectares of freehold land located in Amlang Commune, Thpong District, Kampong Speu, Cambodia.

The company expects to start land clearing and cultivating activities in the fourth quarter 2008.
Of the US$6.5 million, US$3 million will be used to buy the land and US$3.5 million will be used for capital expenditure and working capital.

The project will be fund via internal funds and borrowings from financial institutions. -- BT Newsroom