Logo of Phnom Penh Post newspaper Phnom Penh Post - ADB agrees second rail instalment of $42m

ADB agrees second rail instalment of $42m

ADB agrees second rail instalment of $42m

THE Asia Development Bank (ADB) announced Wednesday it had formally voted to extend a previously announced US$42 million low-interest loan to complete the rehabilitation of Cambodia’s railways.

The loan represents the second half of the ADB’s $84 million commitment to the $141 million repair project, with the remainder of the funds coming from the OPEC Fund for International Development (OFID) and the governments of Cambodia, Australia and Malaysia, ADB spokesman Chantha Kim said Wednesday.

“This upgraded rail network will position Cambodia as a true sub-regional transport hub, creating new jobs and business opportunities,” said Peter Broch, senior transport economist at the ADB’s Southeast Asia department in a press release.

Freight service in the Kingdom had been halted during repairs. According to the ADB’s press release, the Phnom Penh-Kampot stretch will reopen in 2011 and the remainder of the network by 2013.

Sok Naty, secretary of the Railway Construction Committee, said in October that the plan had been to open the full Southern Line – between Phnom Penh and Sihanoukville – by 2011. ADB and railway officials did not return requests for comment on the apparent discrepancy Wednesday.

Cambodia’s rail lines do not extend to either Thailand or Vietnam, Sok Naty has said.

With Vietnam’s September announcement it would build a line from Ho Chi Minh City to the border, the Kingdom represents the last missing section on a line from Singapore to Kunming, China.

MOST VIEWED

  • Prince injured, wife dies after accident

    THE wife of former First Prime Minister Prince Norodom Ranariddh, Ouk Phalla, 39, died while the prince was “severely” injured following a road accident in Preah Sihanouk province’s Prey Nub district on Sunday morning, officials said. Rananriddh, who is also the president of the Funcinpec

  • Bun Heang mocks US, threatens its citizens in scathing open letter

    After being hit with sanctions from the US Department of Treasury, Cambodian General Hing Bun Heang said he would retaliate against any US national who does not respect his country’s sovereignty, has ambitions to invade Cambodia or incites “traitors” in the Kingdom to do

  • Police warn boycott FB group involved in the “Clean Fingers Campaign”

    Police said on Tuesday that they will pick up members of a Facebook group involved in the “Clean Fingers Campaign” that promotes a boycott of next month’s national elections. However, police merely planned to “educate” the group for now, but warned that if the

  • Ranariddh 'seriously injured', his wife dies in accident in Preah Sihanouk

    THE wife of former first prime minister Prince Norodom Ranariddh has died. Ouk Phalla succumbed to injuries sustained in a traffic accident on National Road 4 in Preah Sihanouk’s Prey Nub district this morning. She and the prince were immediately rushed to the Preah Sihanouk