A Malaysian palm oil company is planning to set up a refinery plant in Myanmar.
Delima Oil Products Sdn Bhd will set up
the plant near the sea port, Malaysia’s Plantation Industries and
Commodities Minister Bernard Giluk Dompok said after a meeting with
Myanmar President U Thein Sein on October 31.
He led a delegation of Delima Oil
Products, Felda Global Venture Holdings Berhad (FGV) and Malaysia Palm
Oil Council to Mynamar during a four-day visit beginning on October 29.
“The company (Delima) will grow palm trees and produce palm oil here,” the minister said.
According to him, the Malaysian company is expecting a 10-year lease of the plant.
“We will sell the products in local and overseas markets,” the minister said.
Saying that a memorandum of
understanding has been signed between the two sides, U Dein, director of
Grand Wynn Group of Companies, said his company would authorise the
distribution of the products in Myanmar.
The Malaysian delegation arrived in
Myanmar to study market opportunities and find locations for growing
palm plant, said sources.
According to the President Office
website, the delegation discussed different issues with the president,
including promoting trade and investment between the two countries and
cooperation in palm oil, rubber and forest products sectors.
Source elevenmyanmar
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