The board of Siam City Cement Company (SCCC) has approved taking a 40 per cent share in a joint-venture with Cambodia’s Chip Mong Cement Corporation, according to Thai daily The Nation.

The joint venture, to be named Chip Mong Insee Cement Corporation, will construct and operate a cement plant and related business in Cambodia, said Siva Mahasandana, acting SCCC deputy CEO and senior vice president for marketing and sales.

He said the new company would begin operation in December with $150 million registered capital.

Its new cement plant will have an annual capacity of 1.5 million tons to supply the Cambodian market.