PHNOM PENH, March 2 (Reuters) - Cambodia will rebuild its entire railway system by 2013 with the help of the Asian Development Bank (ADB), the Australian government and others, its finance minister said at a signing ceremony on Tuesday.
"The project began in 2007 and it will be completed in 2013," Keat Chhon (pictured) said as the Southeast Asian country received an additional $42 million loan from the ADB and a $21.5 million grant from the Australian government.
Keat Chhon said the ADB had already provided a total of $84 million in loans to help revive the 600 km (370 mile) network.
Another $13 million had come from the OPEC Fund for International Development and Malaysia had contributed 106 km (66 miles) of track worth $2.8 million.
"The railway has played a central role in Cambodia for more than 75 years and many Cambodians see it rightly as a symbol of development and a means of integration with Cambodia's neighbors in the Greater Mekong Sub region and the world beyond," said Kunio Senga, director general of the ADB's Southeast Asia Department.
He said the Cambodian railway would connect with the railway in Thailand, and through it with Malaysia and Singapore.
Australian Ambassador Margaret Adamson said railways would bring new investment.
"Good railways also help the environment and a community's safety by reducing carbon emissions and road accidents."
Toll Holdings of Australia signed a 30-year concession to operate the railway last June, she said.
"They will build Cambodia's human resources capability as well as deliver the railway services. Their presence, I am sure, will also encourage investment by other quality Australian and other foreign companies in Cambodia." (Reporting by Prak Chan Thul; Editing by Alan Raybould)
"The project began in 2007 and it will be completed in 2013," Keat Chhon (pictured) said as the Southeast Asian country received an additional $42 million loan from the ADB and a $21.5 million grant from the Australian government.
Keat Chhon said the ADB had already provided a total of $84 million in loans to help revive the 600 km (370 mile) network.
Another $13 million had come from the OPEC Fund for International Development and Malaysia had contributed 106 km (66 miles) of track worth $2.8 million.
"The railway has played a central role in Cambodia for more than 75 years and many Cambodians see it rightly as a symbol of development and a means of integration with Cambodia's neighbors in the Greater Mekong Sub region and the world beyond," said Kunio Senga, director general of the ADB's Southeast Asia Department.
He said the Cambodian railway would connect with the railway in Thailand, and through it with Malaysia and Singapore.
Australian Ambassador Margaret Adamson said railways would bring new investment.
"Good railways also help the environment and a community's safety by reducing carbon emissions and road accidents."
Toll Holdings of Australia signed a 30-year concession to operate the railway last June, she said.
"They will build Cambodia's human resources capability as well as deliver the railway services. Their presence, I am sure, will also encourage investment by other quality Australian and other foreign companies in Cambodia." (Reporting by Prak Chan Thul; Editing by Alan Raybould)
1 comment:
This is wonderful news! The wheels of government do turn slowly! This is the first step towards turning Cambodia into another Asian powerhouse! Let's hope the progress will be rapid! Let's also hope that the line to Vietnam can get underway real soon!
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