China seeks partners for local steel mill

• 1 February 2017
• Uncategorized
• 2171 Views

Cambodia’s dependency on imported steel for use in its booming construction sector is being seen as an opportunity by China to establish local production capacity.

Hangzhou Iron and Steel, a Chinese state-owned enterprise with more than 50 years of experience is seeking partners to build the nation’s first steel production plant according to company executives.

Vietnam and China are the main suppliers of Cambodia’s steel imports, which totalled over 265,000 tons in 2015.

During a recent Cambodia-China Business Forum, Weng Wei Min, director of the economic cooperation department at Hangzhou Iron and Steel Group told reporters that the USD10 billion sees huge future potential in the Cambodian market company but had not yet finalised plans.