FAMSUN, a Chinese company, will disburse nearly US$1.6 million loan to local breeders to build a new animal feed processing plant and three poultry farms in major regions, said Daw Hla Hla Thein, executive director of Green Field Co.
The new project will be implemented in Yangon, Mandalay and Sagaing regions in the third week of this month, she added.
Under the scheme, 12,000-hold poultry farms with a good air conditioning system and an animal feed processing plant with a capacity of five tons per hour will soon be constructed in the target areas. According to the agreement, the 40 per cent of the total loan has to pay back by Myanmar side at the beginning of construction works.
Local breeders have to pay back the rest with 12 per cent per annum interest rate within two years in installments. Thanks to the new plant and poultry farms, the price of meat can decrease in the domestic market in future.