KUALA LUMPUR (June 25): FGV Holdings Bhd has launched the FGV Chuping Agro Valley (FCAV) in Perlis, where the group intends to develop an integrated high-value cash crop plantation and potentially develop a fully integrated large-scale dairy farm.

In a statement, FGV said the project was launched in conjunction with the Council Meeting of Northern Corridor Implementation Authority (NCIA) held today.

“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,” it said.

FGV said the development of FCAV will be in line with the Northern Corridor Economic Region (NCER) Agriculture Economic Zone, which will be a new investment destination for the private sector.

It added that the project promotes sustainable food and agricultural best practices via strategic implementation of circular economy initiatives within the FCAV value chain, and that it will provide opportunities for better livelihood for the local community, while also assuring food security for the country.

FGV rose two sen or 1.5% to RM1.31, giving it a market capitalisation of RM4.78 billion.