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Monday, November 21, 2011

China to Establish Metal Melting Industry in Cambodia with the amount of 500 Million Dollars

Having been exploring minerals in the north of Cambodia, one of China’s industry companies named China Nonferrous Metal Group based in Guangxi Zhuang Autonomous Region assured that it will establish metal smelt industry with the amount of 500 million dollars in the next 3 years, said Mr. Yang Daoxi, Vice Chairman of Guangxi Zhuang Autonomous Region dated 18 November 2011. He also said that Preah Vihear is potential for mineral extraction in early 2012. (Rasmei Kam, 22 November.)

Sunday, November 20, 2011

Chinese metal firm to invest 500 mln U.S. dollars in Cambodia

PHNOM PENH, Nov. 18 (Xinhua) -- China's Guangxi Nonferrous Metal Group has planned to invest 500 million U.S. dollars in a steel plant and an industrial zone in Cambodia in the next three years, Yang Daoxi, vice chairman of Guangxi Zhuang Autonomous Region, said on Friday.

Yang made the announcement during a meeting with Cambodian Minister of Industry, Mine and Energy Suy Sem.

He said the Guangxi Nonferrous Metal Group had already invested 30 million U.S. dollars in exploring iron ore in Roveang district of Preah Vihear province in northern Cambodia and the exploration had successfully completed.

"Now, it is the phase of iron ore exploitation and the firm is to build a steel plant and later an industrial park in Cambodia," he said. "My visit is to ask for full support from the ministry in order to find a proper location to build the plant."

"I hope that the project will be a good pattern of cooperation between Guangxi and Cambodia," he said.

Suy Sem said the ministry fully supported the project and he would advice a proper location for the firm to build the plant.

"The project will be a huge benefit to Cambodian economy. I will support and facilitate all requests from the firm in order to achieve this ambitious project."

The minister said that in order to meet the production capacity when the plant is built, the ministry has provided other four areas rich in iron ore to the company to exploit.

Yang, accompanied by a group of Guangxi investors, arrived here on Thursday for a five-day visit.

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