China’s Huaxin Cement purchases stake in Cambodian plant

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.

Edited from various sources by Rosalie Starling

Read the article online at: https://www.worldcement.com/asia-pacific-rim/24062014/chinas_huaxin_cement_purchases_stake_in_cambodian_plant_400/