CONSTRUCTION of Cambodia's stock exchange is set to begin in November, the contractor responsible said Tuesday, as South Korea's World City Co Ltd finalises architecture plans with the Ministry of Economy and Finance.
"After the rainy season we will start [building]," said Duk-kon Kim, vice president of the project management team at World City, which is building the stock exchange at Camko City, a satellite city on the outskirts of Phnom Penh.
The structure is estimated to cost US$6 million to build, Kim said.
Hang Chuon Naron, secretary general of the Ministry of Economy and Finance, said last week that finalisation of the design for the four-storey, 6,000-square-metre exchange building "should be soon". Kim added that the ministry had recently made adjustments to designs submitted by World City architects that are now being incorporated.
He said that construction is scheduled to take eight months from November, with a further three months required for "testing and commissioning", after which it would be handed over to the Finance Ministry. All water and electricity infrastructure was already in place, he added.
The government said previously that it planned to open the stock exchange in December. But while the incorporation of the stock exchange company would probably happen by the end of the year, the opening of the exchange itself would likely come later.
"I think it will be 2010," said Hang Chuon Naron.