As part of its “One Belt, One Road” strategy, China is developing ports in Asia to facilitate the development of China large projects and special cargoes services. Cambodia’s third-largest deep-water port, located in the southern city of Kampot, near the border with Vietnam, is currently under construction. The port project is expected to cost $1.5 billion and will be built with private investment, including from China. Shanghai Construction Company and Zhongqiao Highway Company are involved in a port development expected to open in 2025.
Deputy Prime Minister Hisopala said at the groundbreaking ceremony on May 5 that the investment in the Kampot multi-purpose port development project will build another large deep-water port and a leading modern international port in Cambodia and the ASEAN region. The project aims to strengthen existing ports, including Sihanoukville Autonomous Port and Phnom Penh Autonomous Port, and help develop Sihanoukville into a special economic zone. The port is expected to play an important role in transferring goods to international markets, creating high efficiencies for traders and investors exporting agricultural, industrial and fishery products.
The Minister emphasized in his speech that the project is the first large-scale international project invested by a local private enterprise and will meet the needs of economic and social development. “We hope the Kampot Logistics Centre and Multipurpose Port Investment Project will enhance Cambodia’s logistics and port services, make it more diverse and compete with neighbouring ports,” he said.
In the second phase of the project, they plan to double the container capacity to 600,000 TEUs by 2030. The port complex will include a special economic zone, free trade zone, warehousing, manufacturing, refining and fuel centers. It will cover nearly 1,500 acres.
Post time: May-12-2022
