Bhutan will soon have its first bio-fertilizer company at Athang gewog in Wangdue. To implement the initiative, the Farm Machinery Corporation Limited (FMCL) and the B&B Korea Co., Ltd signed a memorandum of understanding yesterday in Thimphu. The joint venture is a business idea committed to fulfilling the nation’s aspiration of becoming 100% organic in agriculture for assuring safe and nutrition security.
The company has planned for an initial investment of Nu.40 M and starts with about 20 youth employment opportunities in the value chain. The construction will begin within November 2021 and the production is expected to start by the end of January 2022 covering around 18 acres of land.
With its unique selling proposition, the company will manufacture certified and quality-tested products at an affordable price with ZERO health risk by reusing locally available waste materials. It will export the soil enriched products under the “Bhutan brand.”
According to a spokesperson, the company will function at 50% capacity as it exceeds the country's overall requirement of 40000 MT of bio-fertilizers per year. It will assist organic farmers and the private sector not just in terms of fertiliser inputs for production but also in marketing their products outside of Bhutan.
Besides the local market, the company will explore markets in India, Sikkim with the help of international distributors. The private individuals/companies and youth entrepreneurs will also have opportunities to invest in the company at a later stage of its operations attracting Korean investors in agriculture.
During the signing, the Hon’ble Sanam Lyonpo, Yeshey Penjor shared that Bhutan has enough raw materials to produce bio-fertiliser but lacks the technology and experiences in handling the production of organic fertiliser. “The collaboration will be a crucial milestone for the country,” he added.
Representing the B&B Korea Co., Ltd, Daedoo Ko shared that “Our effort is to provide nutritious fertiliser and develop advanced fertiliser manufacturing technologies using almost 100% Bhutanese local materials.” He added that the project will play an important role in Bhutan’s socio-economic development particularly in the agriculture sector.
B&B Korea Co., ltd has expertise in developing eco-friendly products applying biological and natural formulations both at domestic and overseas markets.
The FMCL’s four regional offices located at Paro, Wangdue, Gelephu and Trashigang and 20 gewog’s service outlets will offer farming communicates an easy access to bio-fertilisers. The FMCL regular services and products had already reached farmers across the country providing them significant benefits.
The company will benefit the overall agriculture sector in Bhutan and it will be the solution to achieve the opportunity of commercial organic farming.