CDC approves four new factories to be built in Sihanoukville

The Council for the Development of Cambodia (CDC) has approved four new projects, worth a combined $50mn, for Sihanoukville Special Economic Zone. The approved projects include two garment factories, Cambodian Yunkun Co., Ltd and Hisao International (Cambodia) Garment Co., Ltd, with a capital investment of $2 and $4mn, respectively. Cambodian Yunkun will generate 266 new jobs, while Hisao International is expected to create 270. The third plant, Aurotime New Materials Co. Ltd, a chemical factory, will specialize on vanadium pentoxide, ammonium metavanadate, molybdenum oxide and ferronickel. With an investment of $12mn, the factory is expected to supply 178 jobs to the local market. Finally, Sihanoukville Special Economic Zone Thermal Power Co. Ltd, a coalfired power plant, will generate 75 jobs with a capital of $41.19mn. According to Mey Kalyan, senior adviser to the Supreme National Economic Council, the approved investment is in line with the government’s goal of transforming Sihanoukville province into a major industrial area, serving as a model for the implementation of its industrial development policy for 2015-2025. The government is also planning to build a massive economic zone in Preah Sihanouk province to accommodate up to 10,000 factories, with the construction set to begin in December. (Source: Khmer Times)