CITIC bags contract in Cambodia

CITIC bags contract in Cambodia

China´s CITIC Heavy Industries Company has secured an engineering, procurement and construction (EPC) contract from a Cambodian conglomerate to build a $262 million, 5,000 tonne/day cement plant in Cambodia.

Under the contract, CITIC will carry out the detailed engineering design of the project, procure all the equipment and materials necessary and then construct a cement plant for Chip Mong Insee Cement Corporation, a subsidiary of Chip Mong Group. It will beCambodia´s largest single cement line with the most modern and state-of-the-art equipment and technologies from Germany and China,´ said Aidan Lynam, CEO of Chip Mong Insee Cement Corporation.´It will be a world-class cement plant that produces top quality products for our company, with emission controls.

Mines and Energy Minister Suy Sem said that the contract between the two companies had clearly showed the confidence of investors in Cambodia´s political stability and business opportunities. ´Cement demand in Cambodia is very high due to the rapid progress of construction industry,´

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