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Launch of project to plant 1,000ha of carbon-absorbing sorghum trees

Tin Thanh Group Joint Stock Company has just held the groundbreaking ceremony of the project “Tin Thanh High-tech Agricultural Union – Seed production and sweet sorghum processing along the value chain” at Phu Yen High-tech Agricultural Park (Hoa Quang Bac commune, Phu Hoa district,  Phu Yen province). The project will plant 1,000ha of sorghum trees in Phu Yen.

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The project will plant 1,000ha of sorghum trees in Phu Yen.

Through many years of trial planting, experimentation and domestication of varieties, Tin Thanh Group affirmed that sorghum trees produce huge biomass in a short time, ensuring the replacement of other burning fuels such as coal, oil, gas… Sorghum is a plant that uses nutrients very efficiently in the soil, can withstand salinity, the amount of water needed for good growth is only 1/5 of corn and 1/10 of sugarcane. In particular, sorghum is a crop that has been mechanized by more than 90%, thereby bringing great benefits to agriculture and farmers. Sorghum is also the leading short-term tree in terms of carbon sequestration.

Tin Thanh Group has set out a 10-year strategy to develop sorghum trees in Vietnam and the US with a total area of 2 million hectares. Along with that is the processing of sorghum products such as ethanol, food alcohol, sirup, sour grass (animal feed), liquefied CO2 … The rest after pressing the fluid is fiber residue, which is used as biomass fuel to supply the combustion boiler with electricity.

In addition, Tin Thanh also aims to absorb 1 billion tons of carbon per year and develop a global carbon-reducing circular transport program with 2 million trucks in the US, Europe and Brazil.

Mr. Tran Dinh Quyen, Chairman of Tin Thanh Group said: “The strategic focus is to develop seedlings for 2 million hectares of sorghum trees on a closed platform from cultivation management, development management throughout the growth cycle to harvesting and processing 2 typical products of the Group. Throughout the farming cycle, sorghum trees are always measured, monitored and monitored for their ability to absorb heat energy, absorb carbon every day to produce hydrogen for smart fuel tanks.”

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The signing ceremony of capital financing of 65 million USD between Tinh Thanh Group and AMCap.

Tin Thanh Group cooperates with local farmers in the form of farmers contributing land to cultivate together and benefit from land leasing and other benefits.

Specifically, when participating in this value chain, members are paid land leasing costs of VND 50 million/ha/year; to share profits from the added value of the farming process from 40 to 50 million VND/ha/year; be assigned jobs and receive salaries when registering to work at Tin Thanh Group’s farms; children and relatives are prioritized to work for Tin Thanh Group after graduation; when the Company goes public, farmers get a share of the added value from the value of the Company’s shares.

GS.Dr. Vo Tong Xuan, representative of the Scientific Council and officers, employees and employees of Tin Thanh Group shared that Tin Thanh Group’s pioneering launch of the Tin Thanh High-tech Agricultural Union project will bring many economic, social and environmental benefits. In particular, the deployment of sorghum trees in areas with harsh climates such as the Central region will contribute to the local poverty reduction.

At the event, Tin Thanh Group and Anderson Management Capital (AMCap) signed a capital financing contract of 65 million USD for the project “Tin Thanh High-tech Agricultural Union Zone – Seed production and sweet sorghum processing along the value chain”. AMCap belongs to a large investment fund in the UK called Marcellus Capital Group, operating multinationally (UK, Switzerland, Dubai, Singapore …) and is promoting investment in sustainable economy with positive factors on the environment and climate.

Trích nguồn: https://doanhnghiepvathegioi.vn/launch-of-project-to-plant-1000ha-of-carbon-absorbing-sorghum-trees/