Cambodia, Vietnam launch new building material company

Cambodia's local company Mong Reththy Group and Vietnam's state mining company Vinacomin have launched a 5-million-U.S. dollar building material company in Preah Sihanouk province called Vinacomin-Reththy, local media reported on Tuesday.

Mong Reththy, senator of Cambodian People's Party, was quoted as saying by The Cambodia Daily that the company, which officially started business last Friday in Prey Nop district, would be capable of producing 10,000 bricks and tiles per hour by using modern kiln machinery.

"It will produce 80 million pieces per year," he said, adding that the company will produce many different types of tile. "We want to reduce the imports of construction materials from other countries and increase exports from Cambodia."

Reththy said the company would employ about 200 workers and increase that number if business proves successful. The main export market for the company will be Vietnam, Reththy said.

Deputy governor of Preah Sihanouk province, Chev Kimheng, welcomed the investment, saying it would help reduce costs for construction projects in the area. "The location of the factory is so close to us and our people."

Source: Xinhua