FGV Holdings Berhad (FGV) has officially launched FGV Chuping Agro Valley (FCAV) in conjunction with the Northern Corridor Implementation Authority (NCIA). FGV is an integrated agri-business player with significant palm oil hectarage in Peninsular Malaysia. It is involved in upstream and downstream palm oil operations including harvesting, milling, processing, refining and distribution. It also has rubber plantations and a 51% stake in a major sugar manufacturer MSM Malaysia.
FGV Integrated Farming Holdings Sdn Bhd (FGVIF), a wholly-owned subsidiary of FGV, is planning to transform Chuping into a large-scale farming area for major agriculture activities. The aim is to develop an Integrated High-Value Cash Crop Plantation and the potential development of fully integrated large-scale dairy farming.
FCAV’s development will be in line with the Northern Corridor Economic Region (NCER) Agriculture Economic Zone (NAEZ) which will be a new investment destination for the private sector, both local and international in the region, and supported by various government initiatives.
The fully integrated agro-food project by FGV will promote sustainable food and agricultural best practices via the strategic implementation of circular economy initiatives within the FCAV value chain. It will also provide opportunities for a better livelihood for the local community and assuring food security for the country.
(Sources: FGV Holdings; DBS Bank)
