China firms eye investment in power plant, satellite technology

May Kunmakara / Khmer Times No Comments Share:
Reuters

Two Shanghai-based companies have revealed plans to invest in coal fired power plants and satellite technology in the Kingdom.

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

Liang Shan, vice president of Shanghai Electronic Communication Technology, and Yongtao Jiao, president of Beidou Star Data Technology, expressed their intention to invest in the country during a meeting Friday with the Cambodian Minister of Commerce Pan Sorasak.

Mr Liang said his company has vast experience in the construction of coal fired power plants, as well as advanced and environmentally-friendly technology at its disposal.

“We do need the support of the ministry for this project. We believe the investment will expand trade between Cambodia and China,” he said.

Mr Yongtao, on the other hand, said his company has satellite technology that could capture and transmit data across continents.

Minister Sorasak voiced his support for both projects and said they will help bring new technology to the country and create jobs.

“Naturally, we are happy to facilitate the process for this companies so that they can make their projects a reality,” he said.

He said the companies should now conduct feasibility and market studies before submitting their project to the government for approval.

With seven hydropower plants scheduled to be fully operational by the end of 2018, total energy output will reach 1,329MWs, of which 538MWs will come from coal power plants, 251MWs from fossil fuel power stations, and 72MWs from renewable energy sources, according to the Electricity Authority of Cambodia.

Royal Blue Skies, a subsidiary of local conglomerate Royal Group, and Beijing-based firm China Great Wall Industry Corporation are working on a project that will see the first ever Cambodia-made satellite be launched into orbit by 2021 or 2022.

Share and Like this post

Related Posts

Previous Article

Plans for new cargo terminal in capital unveiled

Next Article

Central bank takes action against wayward lending firms