Samsung C&T Corp to invest in Cambodia’s transport infrastructure
Seoul-based Samsung C&T Corporation has unveiled its interest in transport infrastructure investment in Cambodia, in a move to contribute to developing and upgrading the sector better.
The information was shared by the Samsung C&T Corporation delegation led by Han Jung Suk in a virtual meeting with Leng Thunyuthea, secretary of state at the Ministry of Public Works and Transport on Monday.
In the meeting, the delegation said that the firm is looking at the transport infrastructure development in Cambodia so as to contribute towards further enhancing the transport sector, the ministry said in a Facebook post on Tuesday.
Thunyuthea welcomed the project and asked the firm to consider other mega transport projects – mass transit and expressway, ring road and ports.
“Cambodian government welcomes all investments, particularly the public-private partnership and build-operate-transfer basis investment,” Thunyuthea said.
He also briefed his guests about the updates of under-construction projects and projects to be built in the near future related to roads, bridges, ports, railroads and other physical infrastructure.
Improvement of the transport sector is the key to enhancing
the logistics sector, said Sin Chanthy, president of the Cambodia Logistics Association.
In recent years, the logistics sector in Cambodia has significantly increased in the pre-pandemic period, he said, citing that it requires a transport sector to support.
“Although in the two years of pandemic period, the logistics sectors have been run normally with measures relaxed from the government. So, to support the ongoing sector, the assistance from transport infrastructure is much needed,” Chanthy said on Tuesday.
High standard and quality infrastructure development are needed to fulfil the gap in the transportation infrastructure sector in Cambodia, he said.
Initiated in 1938, Samsung C&T Corporation is a South Korean construction and engineering company as a parent company of Samsung Group to engage in construction and overseas trading operations.
According to its Minister Sun Chanthol, Cambodia’s infrastructure funding comes from many development partners, including China, Japan, Korea, World Bank, ADB, Thailand, Vietnam as well as the country’s own budget.
The Kingdom has never rejected any funding from any organisations, however, the United States has not put any investment in Cambodia’s infrastructure, Chanthol said, urging companies in the US to consider participating in the bidding process to build Cambodia’s infrastructure as the bidding processes are up to international standards.
Since 1998, the country has constructed 15,000 kilometres of paved, national, provincial and rural roads, along with having built 20 bridges across the Mekong River, Bassac River and the Tonle Sap River, stated the ministry.
Source: https://www.khmertimeskh.com/501013160/samsung-ct-corp-to-invest-in-cambodias-transport-infrastructure/
