Singaporean company invests in coffee plantation in Laos

VIENTIANE, 27 JAN (KPL) A Singaporean company, Outspan Bolovens Limited on Monday, in Vientiane Capital signed a contract with the Lao government on the coffee plantation project in Champassak province.
A contract on coffee plantation project was signed between the General Director of the Outspan Bolovens Limited, Mr. Sanjeet Khurava and the Deputy Minister of Planning and Investment, Mr. Thongmy Phommisay.
Speaking at the ceremony, Mr. Khurava said that this contract was designed to develop coffee cultivation through the promotion campaign of local people for growing and producing for export.
The project is carrying out in Kongtoun, Lak 12 (KM 12) and Lak 15 (KM 15) villages in Parksong district of Champassak province.
Mr. Khurava continued that we planned to grow coffee plants on 3,000 hectares in Parksong district till 2011, which expected its yield of 7,500 tonnes of coffee beans yearly.
Last year, we invested around US$4 million to grow coffee plants on 560 hectares in Kongtoun, KM 12 and KM 15 villages in Paksong district, which has been completed, he said.“This year, we plan to grow coffee plants on 1,200 hectares and 1,240 hectares in 2011,” said Mr. Khurava. “Three years coffee plantation projects costs US$40 million”.
“The project activities of Outspan Bolovens Limited would also include the sustainable plantation management, out grower programme, value addition, trading / exports and local infrastructure development,” added Mr. Khurava. Under the contract, the Lao government has granted 30 years of the concession for conducting of the coffee plantation in Laos to the Outspan Bolovens Limited.
If the period of concession ends, the concessionaire can expand the concession.
The Outspan Bolovens Limited incorporated in February 2009 as a subsidiary of Olam International Limited, Singapore.