Baowu group company Shanghai Baosteel Packaging plans a production base for two-piece aluminum cans in Cambodia, according to a company release.
The project is located in Cambodia’s Phnom Penh Special Economic Zone. A new two-piece aluminium can production line will be built in the factory. The installed annual production capacity of the plant is 1.2bn cans, while the capital investment for the project is estimated at CNY499mn ($77.19mn), stated the release.
Cambodia Baosteel Can Manufacturing Company is the tentative name for the project.
Through this investment, Baowu aims to further expand its businesses in the Southeast Asian market and benefit from China’s Belt and Road initiative.