Cambodia has started the construction of a seaport in its Kampot province with an investment of US$1.5 billion from the private sector.
The multipurpose port will help complement the port of Sihanoukville, another major port in that region.
With the completion of the first phase of the project by 2025, the port will have a capacity of 300,000 TEU with an investment of nearly US$200 million. The capacity will go up to 600,000 TEU by 2030 when the total construction is completed.
The port will have 15 meters water draft and be able to accommodate vessels of 100,000 tonnes in size.
“This port will be equipped with modern facilities that can facilitate the flow of goods in our region and Cambodia,” said Cambodia’s Deputy Prime Minister, Chea Sophara in the groundbreaking ceremony on 5 May.
The port will have water, land, and rail connectivity with the capital city of Phnom Penh and other provinces through national roads, and the Phnom Penh-Sihanoukville Expressway. It will also have connectivity to the north of the country by the southern railway.
The port will promote the implementation of the master plan to develop Sihanoukville into a multi-purpose special economic zone in line with the policy of industrial development of Cambodia 2015-2025.
Moreover, the port will also contribute to the implementation of the master plan on the connection of multipurpose transport and logistics systems and help meet the coastal development goals.
Construction of the Kampot port with the massive investment got the approval from the Council for the Development of Cambodia in January this year, under the name of Kampot Logistics and Port Company Limited.
Apart from the two major ports of Sihanoukville and Phnom Penh, Cambodia has another 25 smaller seaports and 78 river ports.
Phnom Penh is constructing additional sea and river ports to facilitate its nearly US$60 billion annual export import trade.
Cambodia signed free trade agreements with China and South Korea and is negotiating free trade deals with some other countries which may lead to a big boost in both internal and external trades.
Sin Chanthy, president of the Cambodia Logistics Association, said more port and logistic investments would help the logistics sector in Cambodia as well as boost the export and import of goods, especially helping Cambodia reduce shipping costs and enable it to compete with neighbouring countries.
Cambodia commences construction of US$1.5 billion-worth seaport
