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Japanese loan for Cambodia to develop Sihanoukville port
15
Aug '17
The Japan International Cooperation Agency (JICA) has signed an agreement with Cambodia to provide an official development assistance (ODA) loan of up to 23.502 billion yen for a developing a new container terminal and improving the cargo handling capacity at Sihanoukville, the only deep-sea port in the country located on the southern economic corridor.

The southern economic corridor is an international trunk road connecting Ho Chi Minh City, Phnom Penh and Bangkok.

The agreement, signed recently in Tokyo, aims to improve the logistics environment in Cambodia and promote trade, according to a JICA press release. The loan funds will be allocated to dredging, procurement of cargo-handling equipment, consulting services and the development of container terminal, access roads and marine routes.

The project will increase the container cargo handling capacity at the port, expected to become a logistics transfer hub for ASEAN, by about 450,000 TEUs (one twenty-foot equivalent unit, or TEU, is the amount of cargo in a 20-foot-long container) to more than one-and-a-half times the current capacity. It will enable the port to accommodate larger vessels, JICA said.

Since 1999, Japan has provided continuous support for improving the infrastructure and enhancing the management capacity of the port. In June 2017, it acquired equities in the port authority of Sihanoukville. (DS)

Fibre2Fashion News Desk – India


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