Kampot Infrastructure Investment Fund Plans Feasibility Questioned

• Proeksa Meas
• 4 October 2018
• Uncategorized
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The feasibility of plans by the governor of Kampot to construct a high-speed rail link to Phnom Penh, have been questioned by an expert from the Ministry of Public Works and Transport (MPWT).

On 4 October, 2018, MPWT spokesperson H.E Vasim Sorya told Construction&Property Magazine that “construction of high-speed railways costs on average between US$7-US$8 million per kilometre, therefore the investment capital of the project is too small”.

H.E Vasim Sorya’s statement comes after local media reported that Kampot provincial governor H.E Cheav Tay had announced plans to establish a joint venture investment fund with 1,000 shares, of which 1 share is equal to US$50,000 totaling to US$50 million for the Phnom Penh-Kamp t high speed rail project and an international airport.

Even without knowing the precise route of the proposed project, H.E Vasim Sorya said that if the railway was to be built on the old route it would be impossible because the Royal Government had already given the concession to the Royal Group while if it was to be built along a new route, there would be even more challenges.

H.E Vasim Sorya further explained that according to legal procedures, the project would first need to get approval from the Council for the Development of Cambodia (CDC) with MPWT as consultant.

Construction&Property Magazine contacted H.E Cheav Tay for more details on the investment project, but he was not able to respond by the time of publication.

H.E Vasim Sorya did however welcome the concept of the high-speed rail development as being important for the development of the country.

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