Lao Thai Hua Rubber Company plans to invest 50 billion kip (US$6.1 million) in the construction of a rubber latex processing factory, but has yet to disclose exactly where the factory would be built.
Currently, there are 2 million rubber trees of the Lao Thai Hua Rubber Company. Of those, more than 400,000 rubber trees have already been tapped and their latex exported to China, the Director of Lao Thai Hua Rubber Company, Mr Saner Chounlamany said recently.
“To make sure that rubber tree growers have more income, the Lao Thai Hua Rubber Company has an ambitious plan to build its own factory,” Mr Saner said.
The company is going to select a location for the new factory somewhere between the provinces of Savannakhet and Vientiane. This is because rubber trees have been planted largely in these provinces, he added.
The factory will become the rubber producer of the company and will purchase latex from local growers.
Currently, the company has planted more than 2 million rubber trees in the four provinces of Vientiane, Bolikhamxay, Khammuan and Savannakhet.
In 2017, the company plans to begin tapping 4,000 tonnes per year and its price expected to be better than in previous years, Mr Saner said.
There are currently about 300,000 hectares of rubber trees nationwide contributing to the increase in forest coverage.
Source: Lao News Agency