ACLEDA Bank Invests US$30 million in CAIC Bond, Funding New Phnom Penh Airport Development

ACLEDA Bank Plc has invested US$30 million in a guaranteed bond of the Cambodia Airport Investment Co Ltd (CAIC) to contribute to developing the Techo International Airport.

The agreement was signed on Monday 10 January by CAIC Director Charles Vann and ACLEDA Bank Plc President In Channy, witnessed by OCIC Chairman Neak Oknha Dr Pung Kheav Se.

The coupon rate of CAIC bonds is 5.5% per annum with 3 years tenure and guaranteed by OCIC.

“The funds raised from the bond will be used for the construction and development of Techo International Airport in Kandal province,” read a press release issued upon the signing ceremony.

CAIC has issued total bonds of US$300 million, and at least over US$100 million has thus far been invested in by many financial institutions.

Prime Minister Samdech Hun Sen has also urged local financial institutions to continue investing in this US$300-million guaranteed bond, to prove that Khmer can also fund large-scale projects per the “Khmer Can Do it” slogan. (Read more)

As of December 2021, the construction of the new Phnom Penh airport, which was renamed Techo Krong Takmao International Airport, is 27% complete and scheduled for operation in 2023.

 

- Video Advertisement -

Related Post

Japan Invests Over USD40 Million in Cambodia in 2024: Strengthening Economic Ties

In a significant boost to bilateral relations, Japan has invested more than USD40 million in Cambodia during the first 10 months of 2024, maintaining its position as the seventh-largest investor in the country. This development was highlighted in a recent report from the Council for the Development of Cambodia, released on November 19, 2024. To […]

Korean Firm Eyes Investment in Cambodian Cashew Processing

Heungkuk Industry, a top manufacturer of construction materials from South Korea, is set to invest in cashew processing in Cambodia. This commitment emerged from a pivotal meeting on November 19, 2024, between HE Vongsey Visoth, Deputy Prime Minister in charge of the Office of the Council of Ministers, Mr. Lee Kee Yun, Director of Heungkuk […]

Remarkable Investment Growth in Cambodia Over the First 10 Months of 2024

Cambodia’s economy is experiencing significant growth in investment. In the first ten months of 2024, the Council for the Development of Cambodia approved 346 new projects totaling over $5 billion, expected to create about 270,000 jobs. HE Chea Vuthy, Secretary General of the Cambodian Investment Committee, reported that investment increased by 38% compared to the […]

Two Chinese Firms to Expand Investment in Cambodia with New Garment Factories

Fortune Rich Trade Co., Ltd. and Ju Wang Footwear Co., Ltd., two prominent Chinese firms, have announced plans to establish additional garment factories in Cambodia, focusing on producing women’s and children’s clothing for international markets. This significant investment initiative was unveiled during a meeting with PM Hun Manet on 6 November 2024 in Kunming, Yunnan […]

Chinese Investment in Cambodian Manufacturing Surpasses USD 9 Billion, with 1,273 Factories Established

Cambodia’s manufacturing sector now hosts 1,273 factories funded by Chinese investors, representing a total investment of over USD 9 billion and accounting for 45.49% of the country’s overall foreign investment capital. The details were highlighted in a meeting between Minister of Industry, Science, Technology, and Innovation HE Hem Vanndy and China’s Ambassador to Cambodia HE […]

ADB Invests USD 80 Million in Climate-Resilient Schools to Transform Cambodian Education

To strengthen Cambodia’s secondary education sector, the Asian Development Bank (ADB) has approved a USD 80 million loan dedicated to constructing climate-resilient school buildings and expanding educational resources across the nation. This update was confirmed in a press release from the Angkor Institute on 31 October 2024. This initiative aims to address Cambodia’s low high […]