Extension of development assistance grant will aid Sihanoukville port project
News Type: Marketing News
Mikami Masahiro, ambassador of Japan to the Kingdom of Cambodia, at the grant signing yesterday. Embassy of Japan to Cambodia
The government of Japan has announced the extension of its official development (ODA) assistance grant to Cambodia. The extension, in the amount of $10.8 million, is earmarked for the project developing a vessel traffic system for Sihanoukville Port.
The signing of the ODA grant was made separately from an exchange of notes conducted virtually between Prak Sokhonn, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation and Mikami Masahiro, Ambassador of Japan to the Kingdom of Cambodia, yesterday.
The extension of Japan’s assistance is in response to a request from the Royal Government of Cambodia made with a view to strengthening the friendly and cooperative relationship between Cambodia-Japan.
The project will establish a Vessel Traffic System (VTS) to improve maritime safety and the efficiency of vessel navigation around the Sihanoukville port. It is expected that safety measures at the Sihanoukville port, the social and economic development of Cambodia and connectivity within the Mekong region will all be improved as a result of this project.
As Cambodia continues to develop its economy, it is important that the quality of life of each and every citizen of the country improve alongside national economic development. Japan is supportive of the Royal Government’s various economic and social development strategies and efforts.
Khmer Times reported in July 2020 that Sihanoukville Autonomous Port (PAS) plans to expand its deep-water port terminal with two additional terminals being built over two phases of construction in order to handle container traffic that has been predicted to increase in the years to come. Current plans are in motion for the port’s existing terminal expansion to a 410 metres in length and 16 metre in depth. Construction on that is slated to start this year with completion scheduled for 2024.
The second and third terminals will have dimensions of 440 metres in length with a depth of 17.5 metres. Dates for those terminals’ construction schedules have yet to be set.
The studies on phases two and three of the deep-water port terminal expansion have been made and the port is actively seeking budget from the line ministry and development partners to develop the project, said PAS’ Deputy Director-General Thay Rithy.
According to its 2020 financial statement, Sihanoukville Autonomous Port’s (PAP) profits for 2020 fell by 54 percent to $10.37 million. That financial statement was issued on Thursday last week and was reviewed by PricewaterhouseCoopers (PwC).
Source from: KHMER TIMES