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Pestech International Bhd, which is engaged in the provision of electrical power facilities, is expanding its business in Cambodia by acquiring a 94% stake in a Cambodian company.

In a filing today, the group said its unit Astoria Solar Farm Sdn Bhd (ASF) is investing US$4 million (about RM16 million) to acquire from two individuals, a 94% stake in Green Sustainable Ventures (Cambodia) Co Ltd (GSV).

The proposed acquisition will give the group super-majority rights over the development of a 20-year concession of a 20MW AC large-scale solar farm project in Bavet City, in the Svay Rieng Province of Cambodia.