YANGON, MYANAMAR: Capital Diamond Star Group (CDSG) and Mitsubishi have announced the formation of a joint venture, Lluvia to engage in food manufacturing and distribution throughout Myanmar and regionally.
Lluvia is the current operating company for CDSG’s food sector businesses, including wheat flour and beverages. The latter has accepted an equity investment from Mitsubishi into Lluvia and plans to invest over US$200 million over the next three years in existing and new businesses throughout the food value chain in Myanmar.
The investments Lluvia intends to make across the food value chain in Myanmar will significantly benefit the country’s food and agriculture industries. In upstream activities, the company intends to work closely with farmers to facilitate better access to capital and enhance their farming techniques through knowledge transfer.
The company will also play a role in connecting the farmers to regional and international markets. In downstream activities, it will also contribute to better food safety through technology transfer and help reduce Myanmar’s reliance on imports through local production of materials.
The company aims to expand aggressively in the region, and aims to be one of Myanmar’s first home grown regional companies.