Chinese firms invest $11.2b in Cambodia
Cambodia gets ready for the next big capital injection from China: Two Chinese firms have reached a deal to build a 400-kilometer rail line, a steel plant and a sea port in Cambodia worth a combined $11.2 billion. It would be by far the biggest-ever investment in the country, and the railway project will be the largest development for Cambodia so far.
The cost for the railway and port will total to $9.6 billion, and the cost of the steel plant will be $1.6 billion. Construction will start this year, and the projects are scheduled to take four years to complete, Reuters in Phnom Penh reported.
Cambodia Iron and Steel Mining Industry, a Chinese firm, has contracted China Railway Group to build the railway to link a new steel plant in Preah Vihear province in the north to a new port at the southern commercial island of Koh Kong, the firm’s chairman, Zhang Chuan Li, said.
The agreement was made shortly after Sinomach China Perfect Machinery Industry and Cambodian Petrochemical announced they would jointly build a $2.3 billion oil refinery, Cambodia’s first, capable of processing five million tonnes of crude a year.
Chinese companies are also set to build a $7 billion, 400 kilometer high-speed-rail link through neighbouring Laos and are trying to win contracts to build new lines in Thailand.
The deals are the latest sign of China expanding its footprint in booming Southeast Asian economies as the US vies for influence in the region.
Cambodia gets ready for the next big capital injection from China: Two Chinese firms have reached a deal to build a 400-kilometer rail line, a steel plant and a sea port in Cambodia worth a combined $11.2 billion. It would be by far the biggest-ever investment in the country, and the railway project will be the largest development for Cambodia so far. The cost for the railway and port will total to $9.6 billion, and the cost of the steel plant will be $1.6 billion. Construction will start this year, and the projects are scheduled to take four years to...
Cambodia gets ready for the next big capital injection from China: Two Chinese firms have reached a deal to build a 400-kilometer rail line, a steel plant and a sea port in Cambodia worth a combined $11.2 billion. It would be by far the biggest-ever investment in the country, and the railway project will be the largest development for Cambodia so far.
The cost for the railway and port will total to $9.6 billion, and the cost of the steel plant will be $1.6 billion. Construction will start this year, and the projects are scheduled to take four years to complete, Reuters in Phnom Penh reported.
Cambodia Iron and Steel Mining Industry, a Chinese firm, has contracted China Railway Group to build the railway to link a new steel plant in Preah Vihear province in the north to a new port at the southern commercial island of Koh Kong, the firm’s chairman, Zhang Chuan Li, said.
The agreement was made shortly after Sinomach China Perfect Machinery Industry and Cambodian Petrochemical announced they would jointly build a $2.3 billion oil refinery, Cambodia’s first, capable of processing five million tonnes of crude a year.
Chinese companies are also set to build a $7 billion, 400 kilometer high-speed-rail link through neighbouring Laos and are trying to win contracts to build new lines in Thailand.
The deals are the latest sign of China expanding its footprint in booming Southeast Asian economies as the US vies for influence in the region.
