China Railway International seeks investment opportunity in Cambodia
2015-02-28PHNOM PENH - China Railway International Group has explored feasibility to invest in building railroads in Cambodia, according to a news statement released by the Cambodian Ministry of Commerce on Thursday.
The statement came after a meeting between Cambodian Commerce Minister Sun Chanthol and China Railway International Group's president Lu Bo on Wednesday.
"Bo informed Minister Chanthol that China Railway International is the sixth largest state-owned enterprise in China and has extensive experience in building railways in China and in the world and has a majority of the market share in railway construction," the statement said.
"Bo indicated that his company wishes to explore the feasibility to construct the railway in Cambodia on a Build Operate Transfer basis," it added.
Chanthol expressed his strong support for Chinese investment in infrastructure projects in Cambodia on a Build Operate Transfer basis, saying that railway construction will help reduce the cost of transportation in Cambodia significantly.
He urged the company to submit a project proposal on the railway construction plan to the Ministry of Public Works and Transport and to the Council for the Development of Cambodia for consideration.
