Chip Mong Industry, a subsidiary of local conglomerate Chip Mong Group, on Friday held the official launch of its two latest factories, which will produce tiles and pipes.
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Occupying 11 hectares of land in the outskirts of Phnom Penh, the plants are equipped with the latest technology from Italy, a group representative said.
They can produce 140 tiles per minute and up to 5000 tonnes of pipes per month, Leang Khun, chairman of the company, said during the launch.
He said the new facilities will help reduce imports of construction materials and create jobs for locals.
“With our decades-long experience and expertise in the construction industry, as well as the latest technology we brought in, we do believe that the products which we produce will match market needs,” he said.
“The huge investment we made into this industry is our contribution to the country’s industrial development and will help us reduce our dependency on imports,” added Mr Leang, who failed to reveal the exact investment for the plant.
Presiding over the ceremony, Cham Prasidh, Minister of Industry and Handicrafts, said, “What you are seeing today is the launch of two giant industrial plants 100 percent owned by local investors.
“They will play a very crucial role in the economic development of the country and in the line with the industrial development policy of the government.
“Using the latest equipment, they will produce good quality products that will satisfy customers and earn their trust,” he added.
According to the Ministry of Land Management, investment in the construction sector reached $4.9 billion during the first ten months of the year.