Phnom Penh Post
By Vong Sokheng
The Cambodian and Chinese governments will sign off on more than $100 million in concessional loans, and ink a $1.67 billion memorandum of
understanding for a long-planned oil refinery project when Prime
Minister Hun Sen visits China this weekend.
Spokesman for the
Ministry of Foreign Affairs Koy Kuong said that during the stay
officials will sign concessional loan agreements for nearly a dozen
national development projects.
“Every visit of Samdach Prime Minister Hun Sen to China always brings back a giant benefit for the nation,” said Kuong.
During
the four-day visit that begins Saturday, Hun Sen will meet with China’s
newly appointed leaders, President Xi Jinping, Premier Li Keqian and
National People’s Congress Standing Committee Chairman Zhang Dejiang. He
will also hold a bilateral meeting with his Australian counterpart,
Julia Gillard, according to a Foreign Affairs Ministry press release.
Among
the projects the governments are expected to sign off on are a
concessional loan for the Koh Thom bridge in Kandal, on which
construction began last month; a concessional loan for a vocational
school in Kratie; and a 300 million yuan ($48.4 million) agreement on
“economic and technical co-operation”.
The largest project by
far, however, is a five million tonne oil refinery first announced in
2011 but which appeared to have stalled until December 2012, when
Cambodian Petrochemical Company and Sinomach China Perfect Machinery
Industry Corp jointly unveiled their plans.
Construction on the
80-hectare plant, located in Preah Sihanouk and Kampot provinces, is
slated to take a year-and-a-half to complete. When it opens – shortly
before Chevron’s off-shore Block A is supposed to begin producing oil –
company officials are hopeful it will shift Cambodia to an oil-exporting
country.
5 comments:
i'm proud of this deal, as khmer
Now China can do anything they want in Cambodia. Thanks to the stupid leader by the name of Hun Sen
1:55 am, your grand and great grandchildren will work their butts off to repay these debts. Cambodia will be poor for centuries because our grandchildren will have to work to pay Hun Sen's debts, no time, energy or money to develop the country because they have to repay Hun Sen's debts.
1:55 am is just another stupid Khmer possibly offspring of stupid survivors of the killing fields or the murderers themselves.The deal will see that - 1.Cambodia will be forever Chinese slave just like the KR working the country to the ground to repay debts, 2.The Chinese will own all of the resources rich land, mined them to the bones to feed their economy, 3.what's left of Cambodia then is devastated/poluted land from the Chinese mining machines that will kill the Khmer population with the toxins - look, the Chinese cannot do the clean up on their land in China - does any one dare to hope the Chinese will do the clean up in Cambodia or Burma??, 4.the CPP will get bigger share of the looted loan money for their stoush in foreign banks - - - - well you must be proud of your ignorant Mr 1:55 am
Hun Sen should borrow more money from hanoi to streghten cambodia military against thailand and herhaps eventually against vietnam by opposition party.
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