China's investment in energy crucial to Cambodia

Xinhua | 2012-9-13
By Agencies

Cambodian Minister of Industry, Mines and Energy on Thursday hailed Chinese companies for hugely investing in the country's energy sector, which is a key element to support the sustainable social and economic development.

Suy Sem's appreciation was made during a bilateral meeting with Wu Yin, Deputy Administrator of China's National Energy Administration.

"Most investors in the country's energy sector are from China. Chinese investors have invested billions of US dollars in building hydropower dams and power transmission lines in Cambodia," he told reporters after the meeting. "The investment in this sector is very vital for Cambodia's social and economic development and poverty alleviation."

Suy Sem said that Chinese companies have invested the total investment of over $1.6 billion to construct six hydro- electric dams with the total capacity of almost 1,000 megawatts in Cambodia.

"So far, the construction of three hydropower dams was completed and the dams have been in operations," he said.

During the meeting, the minister also requested China to consider providing a loan of $50 million a year to Cambodia for power transmission line development.

Meanwhile, Wu Yin attributed more Chinese investors to Cambodia to the close relations and cooperation between the governments of the two countries and pledged to encourage more Chinese investors to do business in Cambodia.

He also promised to take the request into thorough consideration.

Wu Yin was in Cambodia to attend the 9th Meeting of Energy Ministers of the ASEAN Plus Three countries and the 6th East Asian Summit Energy Ministers Meeting, which was concluded on Wednesday.