PHNOM PENH, May 11 (AFP): Japanese trading house Mitsui and Company said Thursday it would set up an energy joint venture in Cambodia, eyeing potential for the kingdom's oil-and-gas rich waters.
Cambodia Project Planning Development Management, a venture between Mitsui and Cambodian National Petroleum Authority, will start operations next month with plans to build oil refinery plants, Mitsui said.
"Mitsui holds a 60 per cent stake in the venture with the rest held by the Cambodian firm. The venture is capitalized at 200,000 dollars.
Mitsui runs an oil exploration project off the coast of Cambodia with US energy giant Chevron.