Logo of Phnom Penh Post newspaper Phnom Penh Post - Tyre, furniture plants to fuel industries: official

Tyre, furniture plants to fuel industries: official

Content image - Phnom Penh Post
Shane (Cambodia) Furniture Co Ltd’s project, with an investment capital of $47.7 million, is expected to bring in over 2,000 jobs. CDC

Tyre, furniture plants to fuel industries: official

Two companies’ investments in processing plants for tyres and furniture in Svay Rieng province will spur development in the Cambodian industry of rubber and other agricultural raw materials, according to Council for the Development of Cambodia (CDC) secretary-general Sok Chenda Sophea on July 1.

Chenda Sophea made the remark while leading a CDC delegation to assess the progress of the construction of Chinese-owned Cart Tire Co Ltd’s and Shane (Cambodia) Furniture Co Ltd’s facilities, in separate special economic zones (SEZ) of the province’s Bavet town.

Also present were provincial deputy governor Hem Piseth and representatives of ministries and other government institutions.

Chenda Sophea said: “We welcome the investment projects of both companies, which will contribute to the diversification of the Cambodian economy.”

Content image - Phnom Penh Post
Council for the Development of Cambodia (CDC) secretary-general Sok Chenda Sophea (centre) leads a CDC delegation to assess the progress of the construction of Chinese-owned Cart Tire Co Ltd’s and Shane (Cambodia) Furniture Co Ltd’s facilities, in separate special economic zones (SEZ) of the province’s Bavet town. SUPPLIED

He affirmed that Cart Tire would exclusively buy domestic rubber as raw material in the production of the tyres.

In its first year, the plant would require about 50,000 tonnes of rubber, and 150,000 tonnes in the second, he said, underlining that this was equivalent to around 43 per cent of total domestic rubber production last year.

He also suggested that Shane (Cambodia) Furniture consider buying local raw materials, noting that doing so would grant them an exemption from export duty, or potentially even subsidies.

A Cart Tire representative said the company has worked closely with Svay Rieng University and other educational institutions to scout for students to man the production line.

Content image - Phnom Penh Post
Cart Tire Co Ltd has reportedly worked with educational institutions to scout for students to man the production line of its plant. CDC

Cart Tire has invested in Vietnam since 2011.

Earlier this year, the government approved the company’s plans to set up a car tyre factory on 50ha in QiLu (Cambodia) Special Economic Zone, with an investment of $350 million.

The plant is expected to create 4,000 jobs for locals.

Shane (Cambodia) Furniture’s project, with an investment capital of $47.7 million, was also approved in 2021.

Located on 35ha in New Bavet Special Economic Zone, also known as “Sin Bavet SEZ”, the plant will produce all kinds of furniture using imported raw materials, and is anticipated to generate more than 2,000 jobs.

Content image - Phnom Penh Post

Content image - Phnom Penh Post

Content image - Phnom Penh Post

MOST VIEWED

  • NY sisters inspired by Khmer heritage

    Growing up in Brooklyn, New York, Cambodian-American sisters Edo and Eyen Chorm have always felt a deep affinity for their Cambodian heritage and roots. When the pair launched their own EdoEyen namesake jewellery brand in June, 2020, they leaned heavily into designs inspired by ancient Khmer

  • Cambodia records first Omicron community case

    The Ministry of Health on January 9 reported 30 new Covid-19 cases, 29 of which were imported and all were confirmed to be the Omicron variant. The ministry also reported 11 recoveries and no new deaths. Earlier on January 9, the ministry also announced that it had detected the Kingdom's

  • The effects of the USD interest rate hike on Cambodian economy

    Experts weigh in on the effect of a potential interest rate expansion by the US Federal Reserve on a highly dollarised Cambodia Anticipation of the US Federal Reserve’s interest rate hike in March is putting developing economies on edge, a recent blog post by

  • PM eyes Myanmar peace troika

    Prime Minister Hun Sen has suggested that ASEAN member states establish a tripartite committee or diplomatic troika consisting of representatives from Cambodia, Brunei and Indonesia that would be tasked with mediating a ceasefire in Myanmar. The premier also requested that Nippon Foundation chairman Yohei Sasakawa

  • Kampot tourism quay ‘90% done’

    Construction on Kampot International Tourism Port – a 4ha quay in Teuk Chhou district about 6km west of Kampot town – has fallen off track, reaching 90 per cent completion, according to a senior Ministry of Tourism official last week. The project is now planned to be finished

  • Demining rat ‘hero’ Magawa dead at 8

    A landmine-hunting rat that was awarded a gold medal for heroism for clearing ordnance from the Cambodian countryside has died, his charity said on January 11. Magawa, a giant African pouched rat originally from Tanzania, helped clear mines from about 225,000sqm of land – the equivalent of 42