The Farm Machinery Corporation Limited (FMCL) in collaboration with B&B Korea Corporation Limited will establish a first ever bio-fertilizer company in the country to fulfill national aspiration of becoming 100 percent organic agriculture. This will assure safe and nutritional security.
The two entities as partner had signed a Memorandum of Understating (MoU) which will be a formal agreement between the two partners to process for Company initiation. The signing in took place in the presence of Ministry of Agriculture and Forests Minister Yeshey Penjor on Thursday.
FMCL Bio Companywill be based at Athang Gewog in Wangduephodrang Dzongkhag with a business idea committed to work towards fulfilling national aspiration of becoming wholly organic. The company has planned for initial investment of about more than Nu 40M to kick start with about 20 youth employment opportunity in the value chain. Under the LUC program, the Compnay will be established on a little more than 18 acres of SRF property.
Lyonpo Yeshey Penjor said that the government was dreaming of such project for past three years and the establishment of bio-fertilizer company will be a ‘’massive milestone.”
Lyonpo said that besides policy commitment, Bhutan has enough land space and raw material but lacked technical skills and experience in handing the fertilizer manufacture. “Bhutan cannot afford to pollute and contaminate soil and water,” Lyonpo said adding that the country should depend on imported chemicals.
A representative from B&B Korean Corporation Limited, Daedoo Ko said that the FMCL will number one bio-fertilizer manufacturer in the country using local materials technically assisted by the company. He added that the plant will produce ZERO health risk fertilizers which will be an agent for soil enrichment.
“The partnership in establishment of bio-fertilizer will further strengthen bilateral relation between the two countries,” the representative added.
The Chief Executive Officer (CEO) of FMCL, Karma Thinley said B&B Korea Corporation Limited is a reputed company in and outside Korea. “The support of the company in establishing bio-fertilizer company in the country will enhance rural economy,” he said.
The board chairperson of FMCL Sonam Penjor said that this venture will help in responding to one of the key problems faced in promoting organic farming in the nation.
As FMCL is strategically positioned with reach, need and access, the board chairperson said “Bio-fertilizer company will guarantee benefits to our farmers, vegetable growers, orchard owners, and to our private organic fertilizer producers.”
The business strength and its unique selling proposition (USP) will be manufacturing certified and quality tested product at an affordable price with ZERO health risk by reusing locally available waste materials and be the agent of soil enrichment aimed to brand products as Bhutan brand for export potentials.
Further, in the long run, it shall support the Government to achieve its strategic goal in its commitment and global declaration for 100 percent organic in agriculture as a testimony for assuring safe and nutrition security molded by its happiness philosophy.
B&B Korea Co., ltd has pioneered domestic and overseas markets by developing eco friendly products applying biological and natural formulations.
FMCL services and products had reached the grassroots link with farmers across the country and had successfully served in connecting the farming communities. It has gained niche over supply channel and logistics in establishing network through its service outreach centre.