CSG and the Royal Group of Cambodia Signed Memorandum of Understanding on Investment and Development of National Power Grid of Cambodia

On Oct 13, President Xi Jinping arrived in Phnom Penh, Cambodia, starting his state visit to the kingdom. On the afternoon of that day, in the Prime Minister’s Office, the signing ceremony of the China-Cambodia cooperation agreement on economy, technology, energy and culture was held. Witness by President Xi and Cambodian Prime Minister Hun Sen, CSG Board Chairman Li Qingkui and Chairman of the Royal Group Kith Meng signed the Memorandum of Understanding on Investment and Development of the National Power Grid of Cambodia.

CSG actively implements China’s Belt and Road Initiativeby power interconnection projects and power trade between China and neighboring countries and regions. So far it has realized power connectivity and conducted power trade with Vietnam, Laos and Myanmar. The signing of the Memorandum signifies the first step of CSG in participating in Cambodia’s power industry.

Over the past three years, with its economy growing at over 7%, Cambodia has rocketing power demands rising over 20% annually. However, problems still stand out in its power sector, including the imbalanced power supply and demand, insufficient power supply coverage and relatively low per capita power consumption. CSG will work actively together with relevant Cambodian departments and enterprises, and leverage its advantages in grid planning and construction, technologies, management and capital to support power supply for the economic and social development as well as the public benefits of Cambodia.