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Royal Group seeks $2b for island project

Royal Group seeks $2b for island project

Cambodia’s Royal Group is seeking $2 billion in foreign investment to develop a 78-square-kilometer island off the country’s south coast, Bloomberg reported on July 10. In a joint venture with the Hong Kong-based Millennium Group, Royal has plans to build casinos, resorts, golf courses and an airport on Koh Rong, the largest and least developed of the 22 islands that lie offshore from Sihanoukville. Once funds are secured, development is slated for completion sometime after 2018, Bloomberg quoted Royal Group Chairman Kith Meng as saying. The government has approved at least six major resort projects on islands off Sihanoukville in a bid to bring more tourists to the region.

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