Steel Industry Poised for Built-up in the Kingdom

• Proeksa Meas
• 16 May 2018
• Uncategorized
• 4563 Views

A group of high profile businessmen and experts from related steel industry discussed and raised a various topics regarding steel industry development in Cambodia, aiming to put the spotlight on attracting more foreign steel millers to invest in the country.

The trade panel discussion was organized by a local material construction supplier -ISI group, which its main production line are steel and a various type of iron.

Kang Leng, CEO and Chairman of ISI Group, highlighted that the steel industry is indeed the bedrock of the industrial growth and economic development of the country. “Steel consumption demand in the market is remarkable increase every year,” he said.

Some statistics, according to Kang, are shown that the total value of steel imported into Cambodia is accounted about USD1billion for the last five years period. China and Vietnam are the raw material main supplier of ISI group.

“Cambodia is still very low compared to our ASEAN peers in term of steel consumption,” Kang Leang continue. “There are plenty more opportunities for growth, hence more opportunities for developing further the steel in the nation,” Kang explained.

Construction sector last year skyrocketed, which the combined value of approved construction project reached approximately USD6 billion — an increase of about 22 percent.

H.E Dr. Sok Siphana, Adviser to The Royal Government of Cambodia who sat down as the moderator of the panel discussion remarked his speech that the construction sector booms – not only here in Phnom Penh, Sihanoukville and Siem Reap are emerging following the capital.