A Change of Guard

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Wednesday 8 October 2014

South Korean firm seeks Cambodian support for hydropower dam, auto assembly plant projects

PHNOM PENH, Oct. 7 (Xinhua) -- South Korea-based KTC Cable Co is seeking support from the Cambodian government to build a 40- megawatt hydroelectric dam and a car assembly plant.
In a meeting with Cambodian Deputy Prime Minister Keat Chhon on Tuesday, Kim Myung-il, president of KTC Cable Co, said the company has planned to invest 167 million U.S. dollars in constructing a 40-megawatt hydropower dam on Pursat I River in Pursat province and an undisclosed amount in building a SsangYong-branded automobile assembly plant in Phnom Penh, the capital of Cambodia.
"The dam will be invested in the form of a 30-year build- operate- transfer (BOT)," he said. "And the would-be car assembly plant will be capable to assembly 5,000 units per year for local market and exports."

For his part, Keat Chhon voiced his support for the projects and advised the company to submit investment proposals to the Council for the Development of Cambodia for official approval.
Entered Cambodia in 2006, KTC Cable Co is currently the biggest cable manufacturer in this Southeast Asian nation.

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