Joint Venture Agreement signed in Siam Reap, Cambodia

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Siam Reap, Cambodia. 25-26 June 2010 - A Joint Venture Agreement was signed between BIONAS and Mrs Tioulong Saumura, Elected Member of Parliament, Phnom Penh, Cambodia to implement the Jatropha Plantation and Biofuel Program in Cambodia. A visit was held to Banteay Meanchey and Kampong Thom, Siam Reap to analyse the progress of the 3 years existing 'Barter Trade' system whereby the villagers will receive the electricity supply in exchange of their harvested Jatropha seeds. The said visit was accompanied by Mr Men Sothavarin, Member of Parliament for Kampong Thom, Siam Reap and Mr Ferdinand Van Wichelen representing Terracottem, Belgium. Bionas Cambodia offers 100% financing of Jatropha seeds to 1 Million people in Cambodia to plant 10 acres per person with guarantee buy back as an effort to eradicate poverty in Cambodia.