CDC Approves Another Stainless Steel Pipe Factory Project in Sihanoukville

• Proeksa Meas
• 11 June 2018
• Uncategorized
• 2943 Views

The Council for the Development of Cambodia (CDC) has recently given a permit to Robustahl Co., Ltd to invest USD$1 million in a stainless steel pipe plant in Sihanoukville.

This new stainless steel tube factory will be located in the Sihanoukville Special Economic Zone, and the establishment of the factory will create at least 552 jobs for locals.

Last month, the CDC also approved a request from Hai Sheng Steel Co., Ltd to build a US$31 million steel plant in Kampong Speu Province. (read more)

Meanwhile, a Vietnamese firm also recently revealed their plan to invest US$500 million to build a steel factory in Sihanoukville Province. This plant would be capable of generating around 2 million tons of steel each year. (read more)

Speaking at the Cambodia Steel Industry Forum last month, CEO and Chairman of ISI Group Kang Leng emphasised that the steel industry is indeed the bedrock of the industrial growth and economic development in Cambodia. “Steel consumption demand in the market increases remarkably every year,” he said.

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

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

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