A joint venture between ISI GROUP, CSSC and Welhunt
Cambodia’s leading steel processing company, ISI GROUP, through its subsidiary Fuxin Steel Buildings, signed a memorandum of understanding (MoU) with Taiwan’s largest steel structure company, China Steel Structure Corporation (CSSC) and Welhunt Materials Enterprise, which has 25 years’ experience in international trading of steel materials, to establish a joint venture company, Chungkang Steel Structure (Cambodia).
The JV company was formed in 2015 and 1st phase of factory construction completed and became operational in Q1 of 2016 with production capacity of 1,500 tonnes per month.
After one year of operation, with strong customer support and increased market demand, the company decided to activate the planned 2nd phase expansion to double the production capacity to 3,000 tonnes per month and successfully completed in Q4 of 2017.
Fuxin Steel Buildings remains focused on pre-engineered building for factories, warehouses, and low to mid-rise steel building applications. Meanwhile, the JV company is specialised in heavy steel structure such high-rise buildings, highways, bridges and power plants.
“We are very pleased and proud on both company and country level to be able to attract a big and well established company like CSSC to become our partners,” said Kang Leng, CEO of ISI GROUP. “Through this JV company, combined with the expertise of Fuxin Steel Buildings, we are now the biggest and most versatile steel building company in Cambodia.”
He said the construction industry continues to be one of the four main pillars of economic growth.
“For the past three years, we have seen hundreds of tall buildings springing up, shaping the skyline of Phnom Penh,” Leng said. “This year our company together with our partners and networks are actively promoting the use of steel structures for high rise buildings.”
“We believe steel structures can help support the strong demand in construction of high-rise buildings and play an important role in helping to beautify our city skyline the same way as it does in many other developed cities,” he added.
Sun Chin I, managing director of Chungkang Steel Structure (Cambodia), said the combined resources of CSSC and ISI GROUP have allowed the company to grow and become the biggest steel structure company in Cambodia. Now it is looking to become a regional leader.
“Together with Fuxin Steel Buildings, we have achieved and completed many high-profile projects such as Cambodia’s largest steel tower car park structure for Aeon Mall 2,” he said. “Over the next five to 10 years we will actively continue to promote the construction of steel structures in Cambodia and set a direction for export to regional markets.”