Cambodian officials are looking for ways to finance projects at Phnom Penh Autonomous Port (PPAP) with the second phase of construction of its new cargo terminal set to begin in 2016.
PPAP is said to be looking at two sources of funding for the expansion, including a loan from the Chinese government.
Hei Bavy, director general for PPAP, said the estimated US$20 million expansion will see the existing cargo terminal increase its handling capacity from 150,000 to 300,000 TEU by 2017.
Bavy said: “We have seen increasing export and import activities in the last few years. The terminal's expansion will make it easy for exporters and importers.”
In addition to the cargo terminal’s expansion, PPAP is seeking approval from the Cambodian government to build a new special economic zone.
Bavy said: “For the special economic zone, we are waiting for government approval, especially from Council Development of Cambodia, if they approve it, we will start right away, maybe next year.”
As well as the second phase, a third phase of expansion is planned for PPAP and is set to begin from 2018.
The third phase will bring the port's total handling capacity up to 500,000 TEU.