China National Machinery & Equipment Corp. (Group) and two Cambodian companies decided Saturday to cooperate in exploiting an iron mine in the country.

An agreement was signed Saturday by Li Shuzhi, vice-Chairman of China National Machinery & Equipment Corp. (Group and the representatives of Cambodia's Pheapimex Group and Ratanak Stone Cambodia Development Co. LTD.

The exploration will begin soon at the Preah Vihear province, Li Shuzhi told reporters. And If it is worth to exploitation, an iron and steel smeltery will be built there, which will be the first such factory in Cambodia's history, he added.

Cambodian Prime Minister Hun Sen expressed his support to the cooperation project, saying the exploitation of nature resources and to make full use of it for the nation's development is one of the priorities of the royal government.

He said that the cooperation between the companies of two countries is important, and the government will fully support it.

Source: Xinhua