New Toyota Car Assembly Plant Opens in Phnom Penh
Collaboration between Toyota Tsusho Corporation and Kong Nuon Group Signals Growth in Cambodia's Automotive Industry
Exciting news awaits as Prime Minister Hun Manet is set to lead the inauguration of a groundbreaking new venture in Cambodia's automotive sector. Scheduled for this Thursday morning, the ceremony will mark the official opening of a state-of-the-art Toyota car assembly plant, a collaborative effort between Japan's TOYOTA TSUSHO CORPORATION and local conglomerate Kong Nuon Group.
Situated within the Royal Group Phnom Penh Special Economic Zone, spanning an impressive area of 42,971 square meters, the assembly plant signifies a significant stride forward for Cambodia's manufacturing landscape. With a majority ownership stake held by Toyota Tsusho at 90%, complemented by a 10% share from Kong Nuon Group, the facility has already received its investment registration certificate from the Council for the Development of Cambodia.
Boasting a hefty investment of $36,781,000, the plant is equipped with the capacity to assemble 1,320 vehicles annually, catering to the burgeoning market demand expected in 2024. This includes 290 units of the popular SUV model FORTUNER and 1,030 units of the reliable pickup model HILUX. Currently employing 150 dedicated staff members, the plant represents not just an economic endeavor but also a source of employment and skill development for the local workforce.
The inauguration of this cutting-edge facility not only underscores Cambodia's growing prowess in manufacturing but also reaffirms its allure as a prime investment destination for major international corporations. Stay tuned as we witness the dawn of a new era in Cambodia's automotive industry.
Situated within the Royal Group Phnom Penh Special Economic Zone, spanning an impressive area of 42,971 square meters, the assembly plant signifies a significant stride forward for Cambodia's manufacturing landscape. With a majority ownership stake held by Toyota Tsusho at 90%, complemented by a 10% share from Kong Nuon Group, the facility has already received its investment registration certificate from the Council for the Development of Cambodia.
Boasting a hefty investment of $36,781,000, the plant is equipped with the capacity to assemble 1,320 vehicles annually, catering to the burgeoning market demand expected in 2024. This includes 290 units of the popular SUV model FORTUNER and 1,030 units of the reliable pickup model HILUX. Currently employing 150 dedicated staff members, the plant represents not just an economic endeavor but also a source of employment and skill development for the local workforce.
The inauguration of this cutting-edge facility not only underscores Cambodia's growing prowess in manufacturing but also reaffirms its allure as a prime investment destination for major international corporations. Stay tuned as we witness the dawn of a new era in Cambodia's automotive industry.
Translation:
Translated by AI
