[PHNOM PENH POST]
GUANGXI LiuGong Machinery Company has expressed interest in establishing
a manufacturing plant in the Kingdom, its Director General Wang Xiaohua
said.
A delegation from the Chinese firm met with Cambodia’s
Commerce Minister Cham Prasidh earlier this week, to discuss its plans
to promote its equipment in Cambodia.
“The company will hold an
event to promote the quality and capacity of engineering machinery to
Cambodian customers. We will also look into the possibility of
constructing a plant here,” he said at the meeting.
LiuGong produces
heavy construction equipment such as wheel loaders, forklifts, and
excavators. It claims to be the largest wheel loader manufacturer in the
world.
Cham Prasidh said he supported the firm in setting up a
construction plant in the country, highlighting the Kingdom’s quota and
duty-free access to markets.
“We encourage and support Gaungxi
machinery to start a construction plant in Cambodia,” he said. The firm
posted profits of US$280.44 million for 2010 on revenues of $2.32
billion, according to a statement.
LiuGong employs some 13,000
workers including more than 750 engineers, and produces more than 60,000
machinery units annually, according to a report earlier this month in
Construction Report magazine.
A report by Council Development of
Cambodia shows China’s approved investments declined to $694 million
last year, down from $893 million in 2009.
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