China to Invest Usd7bn in Four Sectors in Cambodia

• 18 December 2017
• Construction Focus
• 1846 Views

Two giant Chinese property and construction players have formally announced they will invest heavily in four sectors in Cambodia with a capital investment worth USD7bn.

The announcement was made in late November in Beijing, China following a working discussion between Cambodian Prime Minister Hun Sen, Mr. Zhang Yuling, Chairman of Greenland Holding Group, and Mr. Cheng Risheng, Chairman of Henan Transport Investment Group.

The two firms expressed the purpose of their investment and reportedly told their Cambodian counterparts of four major project developments.

The new projects would include an expressway from the capital, Phnom Penh, to the coastal port city of Sihanoukville. Also on the table is the construction of another satellite city near Phnom Penh, the construction of a tourism centre and the launch of a new commercial bank.

Prime Minister Hun Sen welcomed the investment projects which are expected to create 20,000 jobs when construction commences.