Chinese firm Commits $3 Billion Investment in Cambodia’s Energy Development

• 20 October 2023
• Local News
• 1436 Views

In a remarkable leap towards Cambodia’s energy sector development, China Machinery Engineering Corporation (CMEC) has unveiled a groundbreaking plan to co-invest approximately $3 billion in Cambodia’s burgeoning gas energy industry.

This momentous decision was announced following a high-level meeting between His Excellency Hun Manet, Cambodia’s Prime Minister, and Mr. Wang Bo, Chairman of the Board of CMEC, held during the “Third Belt and Road Forum” in Beijing.

During the meeting, Mr. Wang Bo articulated CMEC’s ambitious vision, declaring their intention to embark on a substantial ten-year journey of collaboration with two prominent Cambodian companies, pooling resources and expertise to propel Cambodia’s gas energy sector to new heights.

“In the coming decade, CMEC is poised to jointly invest around $3 billion with two Cambodian firms into Cambodia’s burgeoning gas energy sector,” emphasized Chairman Wang Bo, signaling a substantial commitment to Cambodia’s growing energy landscape.

In response, Prime Minister Hun Manet wholeheartedly welcomed and endorsed CMEC’s increased involvement in Cambodia, recognizing the substantial positive impact such investments would have on the nation’s growth and prosperity.

CMEC, a subsidiary of SINOMACH, is an industry leader specializing in water, energy, and infrastructure. With an established track record of successful projects in Cambodia, CMEC’s latest commitment further solidifies its commitment to the nation’s development.

As Cambodia continues its journey towards greater prosperity, the partnership with CMEC signifies a resounding vote of confidence in the nation’s potential.

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