20 June
2014
Chinese
firm Huaxin Cement Co has purchased a 40 % stake in Cambodia Cement Chakrey
Ting Factory Co, a cement-making factory currently under construction in Kampot
province.
Huaxin’s
$24 million investment Cambodia Cement lifted the local factory’s working
capital to $60 million, up from $32 million, according to company
representatives. “The total investment for the factory’s building is $100
million. We received $32 million from the shareholders and the other $67
million has been funded by Bank of China.” Cambodia Cement, which is reportedly
98 % complete and promises to produce more than 3,200 tons of the building
material every day, is slated to commence operations in August.
According
to industry website globalcement.com, demand for cement in Cambodia reached 2.5
million tons in 2010 with that figure said to be increasing at about 10 %
annually. Cambodia imported more than 816,000 tons of cement from Thailand,
Vietnam and China during 2011. During the first six months of 2012, the Kingdom
imported more than half that amount, 587,000 tons.
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