Joint venture to build $200-million project in SEZ

Locally-owned Chay Chay Investment and Shanghai Guozhi Group Co on Friday formed a joint venture to develop a commercial and industrial project in Banteay Meanchey’s Poipet-O’Neang Special Economic Zone.

The project will comprise retail space and a factory, according to representatives from the firms, and will cost $200 million.

The partnership agreement was signed on Friday in a ceremony attended by Sok Chenda Sophea, secretary general at the Council for the Development of Cambodia (CDC).

Oum Reatrey, Banteay Meanchey’s deputy governor, confirmed the agreement, adding that it will play an important role in the development of the province, creating jobs and helping to curb labour migration to Thailand.

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