China’s Huaxin Cement Company has acquired a 40% stake in Cambodia Cement Chakrey Ting Factory Co., which is currently being constructed in the Kampot province in southern Cambodia. According to company representatives, Huaxin Cement has invested some US$24 million in the acquisition, which will increase the plant’s working capital to around US$60 million (from US$32 million).
Ouk Bunseng, Deputy Manager of Cambodia Cement, noted that the total cost for the construction of the plant is US$100 million. The company received US$32 million from the shareholders and the Bank of China has funded the remaining US$67 million. According to reports, the plant is 98% complete and due to begin operations in August this year. Once completed, the 3200 tpa plant will be the largest producer of cement in Cambodia.
Paul Maxwell-Cook turns to the cement market in Myanmar and Thailand in the final part of this abridged article from the February 2014 issue of World Cement.
Anuj Gupta and Peter Hopper, Strategic Decisions Group, provide some insight into the direction in which the smaller Southeast Asian markets are headed.
This is an abridged version of the full article, which appeared in the February 2013 issue of World Cement. Subscribers can view the full article by logging in.