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Financials

BRIEF-Cambodia launches $262 mln cement plant

PHNOM PENH, Feb 8 (Reuters) -

* Cambodia launched a $262 million cement production facility on Thursday in Kampot province in the southwest. The plant was inaugurated by Prime Minister Hun Sen.

* The cement facility was set up to meet rising demand from the booming construction sector, said Hun Sen.

* The investment in the plant is by Chip Mong Insee Cement Corporation, a joint venture of domestic conglomerate Chip Mong Group and Thailand’s Siam City Cement Company.

* The plant has the capacity to produce more than 5,000 tonnes of cement per day, says the Cambodian govt.

* The value of construction projects in Cambodia rose more than 22 percent to $6.4 billion in 2017 from the previous year, according to official figures, showing the impact of a boom driven by Chinese investors. (Reporting by Prak Chan Thul; Editing by Amy Sawitta Lefevre and Sunil Nair)

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