PHNOM PENH (XINHUA) – Japan signed up to provide a loan of USD306 million to Cambodia for the expansion of a new container terminal at the Sihanoukville Port, according to a press release from the Cambodian Foreign Ministry.
Cambodia’s Foreign Minister Prak Sokhonn and his visiting Japanese counterpart Hayashi Yoshimasa exchanged notes and related documents on the extension of the loan under the presence of Cambodian Prime Minister Samdech Techo Hun Sen.
The loan agreement for the project was signed between Cambodia’s Economy and Finance Ministry Secretary of State Hem Vanndy and Kamei Haruko, chief representative of the Japan International Cooperation Agency Cambodia office, according to the note.
“The loan will substantially contribute to the expansion and modernisation of the Sihanoukville Autonomous Port and the transformation of the port into a principal deep-sea port for Cambodia and in the region in line with the commitment made by the prime ministers of the two countries earlier this year,” Cambodian Foreign Ministry’s spokesman Chum Sounry said in the press release.
Located in the southwestern province of Preah Sihanouk, the Sihanoukville Autonomous Port is the sole international and commercial deep-sea port of Cambodia.
The listed seaport made a gross revenue of USD93.2 million in 2021, up 17.6 per cent year-on-year (y-o-y), according to the Ministry of Public Works and Transport.
The port handled 6.9 million tonnes of containerised cargos last year, up six per cent y-o-y, the ministry added.