CDC Greenlights Nearly US$600m Investment Injection into Preah Sihanouk Province

• 29 February 2024
• Local News
• 1781 Views

The Council for the Development of Cambodia (CDC) has approved two investment initiatives totalling close to US$600 million, both slated for development in Preah Sihanouk province. The announcement comes following a CDC meeting convened on 28 February 2024.

The first sanctioned project involves Ban Dao Investment Co., LTD, committing a capital investment of US$574 million. This venture aims to construct a 2,870-room 5-star hotel situated in Poy Tamong, Sangkat 4, Sihanoukville, Preah Sihanouk province.

The second approved project is spearheaded by Haoruidar (Cambodia) Co., LTD, allocating US$12 million for the establishment of a fruit processing factory. The facility will process raw materials such as mango, pineapple, jackfruit, and durian, and is earmarked for development in Kampong Seila commune, Kampong Seila district, Preah Sihanouk province.

Long Dimanche, Deputy Governor of Sihanoukville, expressed his appreciation for the two endorsed investment projects, highlighting the positive impact they will have on the province’s economic landscape.

“I would like to congratulate the people of Preah Sihanouk province that today we received two investment projects registered from the CDC,” he remarked.

• Projects Development