ana-air canadia-bank Silk-air nissan acleda cab-bank

Cambodia reduces reliance on imported cement

Chea Vannak / Khmer Times No Comments Share:
needpix/alzi_800

Four Cambodian factories produced 7.89 million tonnes of cement in 2019, allowing the nation to reduce the amount of imports feeding the booming construction sector, according to a report by the Ministry of Mines and Energy.

For in depth analysis of Cambodian Business, visit Capital Cambodia
.

The National Bank of Cambodia’s Macroeconomic and Banking for 2019 Report and 2020 Outlook, stated that in 2019 cement imports were valued at more than $100 million, up from about $90 million in 2018. In 2017, imports of cement were estimated at 1.19 million tonnes and valued around $85 million.

Suy Sem, the minister for Mines and Energy, said in November last year the growth of the construction sector resulted in high demand of building materials, including cement, which Cambodia has had to import to support local demand. In 2017 and 2018, the nation could support its local demand for cement. However, because of a rapidly growing construction sector, locally produced cement could not fully supply the demand, forcing imports to fill the gaps,” Suy said.

The total number of construction projects hit 4,446 in 2019, a 55 percent increase from 2018. With investment amounting  to $9.3 billion, a 78 percent increase over the period, according to  the Ministry of Land Management, Urban Planning and Construction. It also said last year river and filtered sand used for construction was 10 million tonnes, Crushed stones accounted for 4.7 million tonnes.

PM Hun Sen said with 8 million tonnes of locally produced cement, Cambodia will save about $500 million a year on importation costs.

Related Posts

Previous Article

Local rubber farmers suffer from a decade of low prices

Next Article

Prudential and ACLEDA mark seven years of partnership