Firm’s Split From Boeng Kak Project Confirmed
The Chinese firm that was financially backing an ambitious project to develop Phnom Penh’s Boeng Kak neighborhood has pulled out, Chinese Embassy and company officials have confirmed, and no other investor appears to have taken its place.
That makes the Erdos Hongjun Investment Corporation at least the second Chinese firm to divest from the controversial project, which has forced the eviction of some 3,000 families and left a giant, barren sandpit where a lake deemed crucial to the city’s drainage once lay.
It also almost certainly leaves its erstwhile Cambodian majority partner, CPP Senator Lao Meng Khin’s Shukaku Inc., without the capital to follow through on its original billion-dollar plans. ...
Zsombor Peter and Aun Pheap
http://www.cambodiadaily.com/news/firms-split-from-boeng-kak-project-confirmed-64318/
