Confirmation of new main contractor for The Peak mixed development project
November 30, 2019- Oxley Gem (Cambodia) Co., Ltd, (“Oxley Gem”) being the developer of The Peak Hotel mixed development Project (“Project”) located at Sam Dach Hun Sen Road, Tonle Bassac Commune, Chamkarmorn District, Phnom Penh City, has confirmed the appointment of China Railway Urban Construction Group Co., Ltd (“CRUCG”) to take over the existing construction of the project.
CRUCG is a wholly-owned subsidiary of China Railway Construction Corporation Limited (“CRCC”); a super large state owned construction enterprise listed in Shanghai and Hong Kong in 2008 (A-share code 601186, H-share code 1186). In 2018, it was ranked 58th position among the Fortune 500 and the top three of the world’s largest 250 engineering companies for 11 consecutive years. CRUCG specialises in housing construction projects and has rich experience in general contracting of super high-rise buildings and super large urban complex construction. For more details, please refer to http://crucg.crcc.cn.
Currently, Oxley Gem is working closely with the previous Main Contractor Sino Great Wall International Engineering Co., Ltd (“SINO”) on the final phase of handover process in order for CRUCG to take over smoothly by next Friday December 06, 2019. Construction works shall resume as per normal thereafter.
On behalf of the company and all stakeholders involved in the Peak, we wish to assure that the projected completion date of this project will not in any way be affected by this termination of SINO and replacement of main contractor.