A $2.5 million electronics and electrical equipment assembly plant has been launched in Pursat province’s easternmost district of Krakor, which the operator’s CEO claims will aid the government’s efforts to develop the energy sector by improving local resources and generating significant revenue for state coffers.
SchneiTec CHINT Co Ltd is a joint venture between the local SchneiTec Group and Chinese investment company CHINT Group, according to Minister of Mines and Energy Suy Sem. The Ministry of Commerce’s business registry shows postal registered office addresses in Shanghai, China for two of the five SchneiTec CHINT directors listed.
At the inauguration ceremony on February 28, SchneiTec CHINT Co Ltd CEO Heng Socheat said the rapidly growing demand for electrical equipment fuelled by the momentum of Cambodia’s continuous development had motivated his company to set up the plant.
Located on a 20,000sqm plot in Ansa Kdam village, Sna Ansa commune, the plant in its first phase comprises a 3,000sqm facility which will primarily focus on building medium-voltage electrical equipment and micro-solar systems, he said.
The joint venture aims to bring in the latest technology to churn out all kinds of affordable, high-quality low-to-medium voltage equipment to meet local market demand, with intent to export at a later date, he added.
Although Socheat did not provide a timeframe for when the company might begin exporting, plans for the assembly plant reveal that exports are expected in the second phase, along with increased production capacity.
“The assembly plant will drive customers who use imported electronics to, in turn, use and support local CHINT branded products,” he claimed.
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Author: Nov Sivutha
Source: The Phnom Penh Post
Publication date: 02 March 2022