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Cambodia's Prime Minister Hun Manet held a courtesy meeting with a delegation of China Communication Construction Company led by Chairman Wang Tongzhou at the Peace Palace in Phnom Penh on Friday, Agency Kampuchea Presse reported.
The construction company is among those responsible for helping Cambodia build the landmark Funan Techo Canal.
A day earlier, the Cambodian government signed a historic public-private partnership (PPP) contract with Funan Techo Coastal-Inland Waterways Co Ltd for the development of the Funan Techo Canal, according to a news release Friday evening. The transformative infrastructure project is expected to modernize Cambodia's water transport system, enhance economic independence, and strengthen regional connectivity,
The contract was signed on behalf of the Cambodian government by Deputy Prime Minister Sun Chanthol and by project company representative Ieng Sunly.
Stretching 151.6 kilometers from the Bassac River near Phnom Penh to the coastal province of Kep, the canal will create a new inland waterway-maritime corridor capable of handling vessels up to 3,000 deadweight tons. The project will involve canal excavation, construction of ship locks and supporting navigation and logistics infrastructure.
Thursday's ceremony also marked the signing of other key legal documents, including the shareholder agreement, investment agreement, engineering-procurement-construction contract, and the operation and maintenance agreement, formalizing the full framework for project execution and long-term cooperation, the news agency reported.
"This is an ambitious engineering undertaking, but also a strategic enabler for transportation and connectivity, trade, agriculture, water management, climate change resilience, tourism, and national logistics," Sun Chanthol was cited by the news agency as saying at the signing ceremony. "It is a modern revival of a historic route —a powerful link between our Cambodian past and future."
"Let this canal serve as a lasting symbol of what can be achieved when nations cooperate in good faith, when vision is backed by action, and when the public and private sectors come together in the service of the people," he added.
Chairman of the construction company Wang Tongzhou said that as an inland waterway and important transport infrastructure in Cambodia, the Funan Techo Canal project could become a new engine driving national economic growth.
The project is being developed under a build-operate-transfer model in accordance with Cambodia's PPP Law. Cambodian investors hold a 51 percent equity stake, ensuring majority national ownership, while Chinese investors hold 49 percent. The project companies include Cambodia's Overseas Cambodia Investment Corporation, Phnom Penh Autonomous Port, and Sihanoukville Autonomous Port, alongside China Road and Bridge Corporation.
According to Cambodian companies, the canal is expected to create up to 50,000 direct and indirect jobs in Cambodia, significantly reduce logistics costs and shorten trade routes and boost agricultural productivity, expand irrigation, improve access to international markets, and stimulate tourism and industrial development along the route, said the news agency.
A rigorous environmental impact assessment, conducted by 48 specialists, confirmed minimal environmental impact, besides, there are no national nature reserves along the route. The news agency said the Cambodian government has led efforts to minimize resettlement, with a route designed to avoid dense communities and cultural sites. A responsible compensation and consultation process is underway.
The Cambodian side has stressed that the canal is a civilian infrastructure project, strictly governed by Cambodian law. The project also aligns with the 1995 Mekong Agreement and is fully compliant with relevant procedures of the Mekong River Commission.
chinadaily
