A project to build a $31-million steel-processing plant in Kampong Speu province was recently greenlighted by the government, according to an announcement by the Council for the Development of Cambodia earlier this week.
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The investment proposal was submitted by Hai Sheng Steel.
Sorn Seap, executive vice president of the Cambodian Valuers and Estate Agents Association, said the investment will strengthen the fast-developing construction sector in the Kingdom.
“We really welcome this kind of investment because it can help us reduce our steel imports,” he said.
“We do encourage investment in any construction material because it adds value to the industry. We are still behind our neighbors when it comes to the construction industry, so this investment is most welcomed.”