Techo International Airport Construction 40% Complete While Five Banks Invest US$23m

• 14 October 2022
• Local News
• 2320 Views

The construction of Techo International Airport (TIA) is now 40% complete as of October as the work is scheduled to finish in 2024.

The Cambodia Airports Investment Corporation (CAIC) updated the construction process at the signing ceremony of TIA guaranteed bond investments on 14 October. (Read more)

Cambodia Airports Investment Corporation (CAIC) is a joint venture between the Royal Government of Cambodia, represented by the Secretariat of State for Civil Aviation (SSCA), and the Overseas Cambodian Investment Corporation (OCIC).

The Royal Government of Cambodia has granted CAIC the exclusive rights to fund, construct, operate and own the Techo International Airport.

CAIC has invested US$524 million (excluding land) to date.

Regarding the guaranteed bond investments, OCIC, CCAIC, and five major banks in Cambodia, including Cathay United Bank (CUBC), First Commercial Bank (FCB), Mega International Commercial Bank (Mega ICBC), Taiwan Cooperative Bank (TCB) and Union Commercial Bank (UCB, a Cambodian subsidiary of Taiwan E. Sun Commercial Bank), signed guaranteed bond investments on 14 October in the Techo International Airport (TIA).

Under the agreement, the five major banks subscribed for a total of US$23 million in the Techo International Airport (TIA) Guaranteed Bond.

Funds from the TIA Guaranteed Bond will be used for the construction of the new international airport in Kandal province. The TIA Guaranteed Bond has a coupon rate of 5.5% with a 3-year bond period.

OCIC is the largest and most influential investment group and local enterprise group in Cambodia. The group’s core businesses and expertise include real estate development, infrastructure, construction, property management, education, medical care, media, shopping centers, hotels, rice mills, glass factories, etc. Notable projects include Techo International Airport, Diamond Island Satellite City, Norea Island Satellite City, Chroy Changvar Satellite City, Olympia City, etc.

 

 

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