Crop of rice processing plants in the pipeline

Myanmar will construct rice factories with the help of Misuri & Company Ltd from Japan to produce value-added products from rice, says the Myanmar Agribusiness Public Corporation (MAPCO).

The joint-venture Integrated Rice Complex Project (IRCP) will construct milling and processing plants in at least 15 locations that have been designated as key trading posts for the commodities.

The factories will be constructed on both sides of Yangon’s TwanTay Canal and in the Dagon Seikkan Special Economic Zone, close to the Pyapon River and in Kyaiklat Township in Ayarwaddy Region, Latpadan in Bago region, and four places located near the villages of Alinlo and Maezalikone in the capital, Nay Pyi Taw.

“Integrated Rice Complex Project (IRCP) factories that include milling and processing plants will be constructed at Nay Pyi Taw, Kyaiklat, Twantay and Latpadan during 2013, as part of a joint venture between Mitsuri from Japan and MAPCO,” confirmed Ye Min Aung, managing director of MAPCO.

 “MAPCO will be responsible for constructing the factories’ infrastructure,” he added.

Construction of the plant is expected to cost about US$40 million (Bt1.19 billion), while the estimate for the five factories is $200 million.

The joint-venture company will analyse the 15 sites earmarked for the project and prioritise four sites for construction work this year.

Myanmar expects to export 1.5 million tonnes of rice in the fiscal year 2012-2013, which would be a 46-year high, according to the Ministry of Commerce.