The Council for the Development of Cambodia (CDC) recently granted approval for the establishment of a USD 40M steel manufacturing facility by Huale Steel (Cambodia) Co., Ltd in the Sihanoukville Special Economic Zone, to boost production capacity to align with the growth of the construction sector.
The augmented investment inflow through this steel processing plant is anticipated to have a favorable impact on the economy, including job creation, cost reduction associated with importing materials from overseas, and notably, a decrease in construction expenses. Additionally, the presence of a local steel plant is expected to expedite the expansion of Cambodia’s construction sector.
At present, a significant portion of construction materials, including steel, is imported from Vietnam, China, and Thailand for use in Cambodia’s construction projects.