Thailand's largest conglomerate Siam Cement Group (SCG) last week reported strong sales in the Cambodian market in the third quarter of this year, citing robust economic performance.
The firm’s third-quarter revenue from sales in the Kingdom amounted to $111 million, which represents a 14 per cent year-on-year increase, buoyed mainly from its cement and building materials business, its quarterly financial results report said.
The report noted that the firm’s revenue from sales in Cambodia in the first nine months of this year amounted to $337 million.
SCG president and CEO Roongrote Rangsiyopash said: “Cambodia’s economy achieved robust growth during this year’s third quarter. The inflow of foreign direct investment, especially from China, is stimulating in the whole construction industry.
“There is still strong demand for cement and construction materials in the capital and emerging cities such as Sihanoukville, Poipet and Bavet.”
VTrust Appraisal Co Ltd research director Hoem Seiha, research director of VTrust Appraisal said the construction section boom has created a lot of demand for construction materials in recent years.
“We see that our construction sector is mushrooming everywhere now, especially in Phnom Penh where there are a lot of condos, apartments and residential complexes that generate a lot of demand in the construction material market,” Seiha said.
A recent report from the Ministry of Land Management, Urban Planning and Construction said investment in the construction sector soared 34.7 per cent year-on-year in the first nine months.
It reached $6.5 billion – in 2,541 projects – from $4.8 billion compared to the same period last year.
The report noted that from 2000 to the end of September this year, the ministry approved 46,991 construction projects – which cover more than 126 million square metres – with a total investment of more than $48 billion.