Chinese company proposes USD160 million parking garage on Phnom Penh outskirts

• 6 May 2020
• Local News
• 10200 Views

China Good Cars Holding Ltd plans to propose the construction of a large modern parking garage on the outskirts of Phnom Penh with an investment budget of USD160 million to reduce traffic congestion in Phnom Penh.

This investment plan was revealed by representatives of China Good Cars Holding Ltd to H.E Sun Chanthol, Minister of MPWT during a meeting on 5 May 2020 at the ministry, according to a post on the MPWT Facebook.

During the meeting, the Chinese company presented two main investment proposal objectives which will be implemented in two phases. For the first phase, the investment will be made in the modern parking garage on the outskirts of Phnom Penh to ease traffic congestion and increase parking spaces in central parts of the capital. The second phase will see invest in modern public bus service on the national roads to connect the central city areas to the suburb areas and to nearby provinces.

In response to the proposal, H.E Chanthol expressed his warm welcome to the China Good Cars Holding and showed his support by asking the General Department of Land Transport to work with the company to conduct a technical feasibility study. The minister also recommended the company apply for investment registration with the Council for the Development of Cambodia to obtain available benefits and obtain permission for implementation in Cambodia.

• Projects Development
• Investment and Funding