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China Harbour Engineering Bags $1.5 Bn Deal to Build Cambodian Port

China Harbour Engineering Company Ltd (CHEC) has been awarded a contract worth $1.5 billion to construct a multi-purpose seaport in Kampot, Cambodia. The Kampot Logistics and Port project, which covers 600 hectares, was initiated in May last year. The project features other major contributors like the Shanghai Construction Group and China Road and Bridge Corporation.

The agreement, signed by CHEC’s Cambodia office managing director Lan Qiuli and Kampot Logistics and Port Company’s president Meas Thom, was witnessed by Cambodian Minister of Public Works and Transport Sun Chanthol.

The 15-year construction project will be executed in three phases, with the first costing approximately $200 million from 2022 to 2025. Upon completion, the deepwater port will boast a depth of 15 metres, sufficient to house vessels up to 100,000 tons. It aims to handle 300,000 twenty-foot equivalent units (TEUs) by 2025 and double that by 2030.

The mega project will encompass a container terminal, a special economic zone, a free trade area, a logistics hub, an oil refinery, and a terminal for tourist vessels, among other features. It is anticipated to be the third largest port in Cambodia, following the Sihanoukville Autonomous Port and the Phnom Penh Autonomous Port, Chinese media reports quoted Chanthol as saying.

Source: fibre2fashion