Chinese Firm Seeks Funding for Sihanoukville Expressway

[geovalin]

Khmer Times/Ven Rathavong

BEIJING (Khmer Times) – Officials from China’s Export-Import Bank are expected to visit Cambodia this week to study granting a loan to a Chinese construction firm to build a $1.6 billion, 190-kilometer long expressway from Phnom Penh to Sihanoukville. Liu Hong, the Vice-president of China Road and Bridge Corporation (CRBC) which will build the expressway on National Road 4, told a visiting Cambodian business delegation in Beijing that the company wanted to clarify the issue of funding.

“We studied this project a few years ago and we already wrote a report about this study and sent it to the Cambodian government,” he said. “We asked to follow the principle of BOT [build Operate and Transfer]. “However, the problem is what is the best way to make our money back after construction?”

He said waiting to earn a profit would take too long, so the government Export-Import Bank would investigate providing a loan. Construction is set to start this year and be completed by 2020. In 2004 the Ministry of Public Works and Transportation signed a Memorandum of Understanding with China’s Henan Provincial Communication Planning, Survey and Design Institute for the construction of the expressway.

read more http://www.khmertimeskh.com/news/24197/chinese-firm-seeks-funding-for-sihanoukville-expressway/

[SantiSuk]

Sounds like there is a great rush to put carts before horses.

Here's a lovely shiny new plan to build a big road that will solve all your problems. Now ... where's the money for it please?