Wilmar unit forms joint venture in Myanmar to produce sugar
Published on Apr 14, 2014 8:18 AM
SINGAPORE - A unit of Wilmar International has formed a joint venture with Myanmar-based Great Wall Food Stuff Industry Company to produce and sell sugar and its by-products.
Wilmar will hold a 55 per cent stake in the joint venture in Myanmar, which is called Great Wall - Wilmar Holdings, it said on Monday.
The joint venture company will acquire all the existing sugar-related business, mills and plants of Great Wall and its associates.
These include two sugar mills with a total milling capacity of 4,000 metric tonnes of sugarcane per day and a total production capacity of 65,000 metric tonnes of sugar per year, a bio-ethanol plant and an organic compound fertiliser plant.
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