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Max set for expansion into rubber
(Volume 26, No. 520)
MAX Myanmar Group of Companies has paid K2.8 billion for 3546 acres (one acre equals 0.4 hectares) of rubber plantation in Mon State and is considering expanding to 5000 acres in 2010, said the group’s project director U Maung Maung Thet.
This is a first foray into rubber cultivation for Max Myanmar, which comprises six enterprises with 27 branches in Myanmar.
U Maung Maung Thet said Max Myanmar was planning to start production in 2012, providing latex to government tyre factories.
“Normally, one acre of seven-year-old rubber trees can produce 400 pounds (180kg) of latex. And though we cultivate more than 3000 acres, we can only get latex from 700 acres. That’s why we hope we can provide 280,000 pounds [127272.7kg] of latex.”
He added that Max Myanmar could boost its rubber plantation from 3546 acres to 5000 acres later this year with a K4 billion investment.
“Max Myanmar has already invested K2.8 billion in rubber. Perhaps we want to expand more than 1000 acres. That’s why we have to invest K1.2 billion more for this year,” U Maung Maung Thet said. Max Myanmar started to invest in rubber plantation in 2005 with 1106 acres Mon State, and more in 2006. It employs 1200 plantation workers and will start testing latex quality in 2011.
