Construction of Techo International Airport 32% Complete; US$414m Spent

• 7 March 2022
• Local News
• 5016 Views

Construction on the new Techno International Airport is 32% complete as of early March, according to a Cambodia Airport Investment Co., Ltd. (CAIC) press release of 4 March.

CAIC added that a total amount of US$414 million has been spent to date on the development excluding the airport land investment.

Even though the COVID-19 pandemic and flooding during the rainy season caused some disruption to the construction, work has been proceeding as planned with the first phase scheduled to be completed in 2023.

The new Phnom Penh International Airport is a massive investment project worth over US$1.5 billion stretching over a 2,600-hectare plot in Kandal province.

CAIC is a joint venture between the Royal Government of Cambodia, represented by the State Secretariat of Civil Aviation, and OCIC. The firm has the rights to own, design, construct, finance, operate, maintain and manage the Techo International Airport.

To raise additional capital, CAIC and OCIC have also issued guaranteed bonds with a total value of US$300 million. Thus far, approximately US$160 million have been issued to banks, insurance companies, and government institutions. (Read more)

• Business and Market
• Projects Development
• Airport and Aviation