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| A young barefooted boy looks pensive while behind him workers employed by Shukaku Inc pump a mixture of sand and water into the northeastern edge of Boeung Kak lake. (Photo by: Will Baxter) |
Vanessa Ko
The Phnom Penh Post
A Chinese company has invested tens of millions of dollars in the controversial development of the Boeung Kak lakeside, in connection with firms linked to a powerful ruling party senator Lao Meng Khin, according to Chinese-language news reports.
The reports from September say that the involvement of the state-owned Inner Mongolia Erdos Hung Jun Investment Co dates back to July, when it signed an agreement with two local companies to develop the lake.
According to the reports, the Boeung Kak development – known in Chinese as wanguhu, or “10,000 Valley Lake” – was included in a US$3 billion package of investment deals that also included a 750-megawatt power station in Sihanoukville and the exploration of bauxite in Mondulkiri.
The announcement of the deals followed a September 8 meeting between Wang Linxiang, the company’s chairman, and Prime Minister Hun Sen. At the time, Eang Sophalleth, a personal adviser to Hun Sen, told The Post that the meeting was to discuss the power station project and real estate developments, but did not identify Boeung Kak lake as one of the projects.
The Chinese reports reveal that Hung Jun’s lake development agreement involved both Shukaku Inc – which is owned by Lao Meng Khin – and the Cambodia International Investment Development Group.
The latter firm also appears to be linked to the senator. According to an undated government investment publication available online, the firm runs a special economic zone in Sihanoukville, with Lao Meng Khin listed as the “zone developer”.
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The reports from September say that the involvement of the state-owned Inner Mongolia Erdos Hung Jun Investment Co dates back to July, when it signed an agreement with two local companies to develop the lake.
According to the reports, the Boeung Kak development – known in Chinese as wanguhu, or “10,000 Valley Lake” – was included in a US$3 billion package of investment deals that also included a 750-megawatt power station in Sihanoukville and the exploration of bauxite in Mondulkiri.
The announcement of the deals followed a September 8 meeting between Wang Linxiang, the company’s chairman, and Prime Minister Hun Sen. At the time, Eang Sophalleth, a personal adviser to Hun Sen, told The Post that the meeting was to discuss the power station project and real estate developments, but did not identify Boeung Kak lake as one of the projects.
The Chinese reports reveal that Hung Jun’s lake development agreement involved both Shukaku Inc – which is owned by Lao Meng Khin – and the Cambodia International Investment Development Group.
The latter firm also appears to be linked to the senator. According to an undated government investment publication available online, the firm runs a special economic zone in Sihanoukville, with Lao Meng Khin listed as the “zone developer”.
Please click here to read more...
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