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Chinese Firm Plans US$11 Billion Rail, Port, Steel Projects in Cambodia
01/03/2013 - Two Chinese companies have reached a deal to build a 400-km (250-mile) rail line, a steel plant and a sea port in Cambodia worth a combined US$11.2 billion in what would be by far the impoverished country's biggest-ever investments, Reuters reports.
Two Chinese companies have reached a deal to build a 400-km (250-mile) rail line, a steel plant and a sea port in Cambodia worth a combined US$11.2 billion in what would be by far the impoverished country's biggest-ever investments.
Cambodia Iron and Steel Mining Industry Group, a Chinese firm based in Phnom Penh and established in 2006, has contracted the China Railway Group to build a railway to link a steel facility in northern Preah Vihear province to a port at the southern commercial island of Koh Kong, the company's chairman said on Wednesday.
The rail link and port would cost $9.6 billion and the steel plant $1.6 billion.
The deal is the latest sign of China expanding its footprint in the frontier economies of a booming Southeast Asia as the U.S. vies for influence in the region.
All three projects in Cambodia would start this year and take up to four years to complete, chairman Zhang Chuan Li said…
