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Company |
Bean Heack Investment Co., Ltd. |
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Company profile |
BEAN HEACK INVESTMENT Co., Ltd. is a limited liability company, registered in the Ministry of Commerce with an initial registered capital of 20 million riels. The company planned to invest US$ 42,200,390 to pay initial plant growth, civil construction, production facilities purchasing, and business operation costs in the first 10 years of rubber cultivation development, covering 4,385 hectares of land concessions. The company is headquartered at No. 92, Norodom Blvd., Sangkat Chaktomuk, Khan Daun Penh, Phnom Penh, Kingdom of Cambodia. |
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Registration investment capital |
KHR 20,000,000
USD 42,200,390 |
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Company registration date |
Not found |
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Company registration code |
Not found |
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Director |
Mr. Nguyen Quoc Khanh |
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Director residence |
Vietnam |
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Company address |
The company is headquartered at No. 92, Norodom Blvd., Sangkat Chaktomuk, Khan Daun Penh, Phnom Penh, Kingdom of Cambodia. Contact Number: 097 959 8442. |
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Type of EIA reports |
Initial Environmental Impact Assessment |
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State agency |
Ministry of Environment |
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Site |
BEAN HEAK Investment Co., Ltd. is granted permission from the royal government of Cambodia for rubber plantation development covering 7,289 hectares of land concession, located in Beng Per Wildlife Sanctuary, Sakream commune, Prasat Balangk, and Stoung district, Kampong Thom province. |
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Village |
Not found |
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Commune |
Sakream Commune |
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District |
Prasat Balangk and Stoung District |
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Province |
Kampong Thom |
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Contract duration |
70 years |
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Area size of project |
4,385 hectares |
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sector |
Agro-industry |
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EIA company |
Green Consultancy Firm (GCF) |
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Backgrounds of EIA company |
Not found |
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Address of EIAs company |
Not found |
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Relevants law |
Law on Environmental Protection and Natural Resource Management, Law on Forestry -Sub-decree on Environmental Impact Assessment Process, Sub-Decree on Water Pollution Control, Sub-Decree on Solid Waste Management, Sub-Decree on Air Pollution and Noise Disturbance, Sub-Decree on Economic Land Concessions, Law on Land, and Law on Labour |
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Revenues and expenditures |
According to the economic analysis on the investment project area, the company needed USD 42,200,360 in capital for initial plant growth, civil construction, procurement of production facilities, and business operation costs. Expenditure projections on this development were USD 39,402,982 and USD 7,879,224 in the first 10 years (2011-2020) and 20 years, respectively. Analysis of the company's cash flow indicated that the first year of the cash flow determined with a negative cash balance of (-) USD 4,446,292, declining the cash balance until the 8th year with (-) USD 628,541. The company started receiving revenues in its 9th year with a capital of USD 1,207,608, rising to USD 7,311,330 in its 13th year. |
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Social alnd environmental impacts |
Forest productivity through the deforestation on land concessions is rehabilitated by rubber growth and formed as an agro-industry to expand the forest lost due to past deforestation. With the replacement of rubber plantations, this growth helps maintain the natural environment in the land concessions, contributes to rural economic development, increases income to the dependent farmers, and promotes the processing of rubber tree products and other mixed crops for market demand as well as export to the international market. |
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Employment opportunity |
BEAN HEAK Investment Co., Ltd. employs local labourers and international experts, including managers, national and international engineers, technicians, production team managers, financial administrators, permanent workers, and contract workers. In the first year, these labourers were going to recruit 866 employees. The labourers were expected to pursue recruiting until 1,852 employees in the fifth year. Starting from the 6th to 9th year was planned to decrease to 1,769 employees and remain constant until the 15th year. |
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Public participation |
Initial Environmental Impact Assessment on rubber plantation proposing on development project had relevant focal person in the following: Provincial Governor of Kampong Thom, Deputy Governor of Kampong Thom, Deputy Director of Kampong Thom, Provincial Department of Land Management, Urban Planning and Construction, Deputy Director of EIA Office, Kampong Thom Provincial Department of Environment, Deputy Director of Kampong Thom Provincial Department of Agriculture, Deputy Director of Kampong Thom Provincial Forestry, Administration Deputy Secretary General of Kampong Thom Provincial Office, Assistant Governor of Kampong Thom District Governor Andong Meas District, a total of 8 GCF (Green Consultancy Firm working groups), and a total of 175 communities living in the project area. |
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Land converted from |
BEAN HEAK Investment Co., Ltd. was granted permission from Royal Government of Cambodia on delegation of full powers refering to No. 24 dated February 4, 2010 on the authorization of H.E MOK Mareth, Senior Minister of the Ministry of Environment and H.E KEAT Chhon, Deputy Prime Minister and Minister of Economy and Finance to sign simultaneously an agreement on investment project for the development of agro-industrial sector on rubber plantations of a total area of 4,395 hectares (four thousand three hundred and eighty-five hectares) for 70 years locating at Beng Per Wildlife Sanctuary, Sakream Commune, Prasat Balangk and Stoung District, Kampong Thom province. |
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Environmental management plan |
According to the level of impact of development, this project did not require institutional involvement and environmental oversight, with minimal negative impact. Moreover, the local environmental coordinator and public sectors involved from the Ministry of Environment and the Ministry of Agriculture, Forestry and Fisheries monitored the investment project. The company itself had a central responsibility for the environmental management of the project based on the environmental management measures set out in the environmental management plan of the EIA report. |
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Development plan |
The company had a local development plan that offered two programs per year, namely the implementation of development and a proposed plan. The programs hightlighted on the developement paln that the company was going to provide 10 wells (one well for five families), rural roads maintenance and construction in the project area for 1,000 meters length, school building renovation/construction in the company location, healthcare facility of the company in the concession, and construction of irrigation system (social donation) USD 260,000. Within the proposed development plan of Sakram commune, the company was requested to help build two lines of rural road networks connecting the commune to other villages such as Sakram Cheung village, Veal Thnal village and other villages, evacuate 7 wells, purchase 1 generator and1 motorbike for commune hall, prioritize employment opportunities of the villagers than strangers, and establish healthcare center in every village. |
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Mitigation strategies |
The investment project for the development of rubber plantation had been studied and evaluated in accordance with the guidelines of the Ministry of Environment, with an emphasis on physical resources, ecological resources, social resources, occupational health and safety plans, regional and combined impacts with mitigation measures on those issues. |
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Environmental and social funds |
The company was going to provide USD 125,000 for social development and USD 180,000 for environmental rehabilitation in six years. |
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EIA publication year |
2010 |
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Last update |
21-Sep |
