Logo of Phnom Penh Post newspaper Phnom Penh Post - Mini-city and deep port in the works, says local developer

Mini-city and deep port in the works, says local developer

Mini-city and deep port in the works, says local developer

The new commercial centre would include high rises and a major dredging operation stretching from Phnom Penh to Vietnam.

CAMBODIA's largest-ever property and industrial complex is expected to get under way, according to David Chanaiwa, chairman of Brothers Investment Group, which is behind the development.

The massive US$1.6 billion project would include a deep-water port on the Mekong River, a 60-storey residential high rise, a marina and a digital media centre.

Most ambitious is the company's plan to dredge the Mekong from Phnom Penh to the Vietnamese border to allow heavy cargo ships to travel year round.

"The project will reduce cargo costs ... a lot of traffic will be redirected from roads to the Mekong," Chanaiwa said.

He said that the initiative is backed by Korean and Japanese investors, but would not specify their names.

Chanaiwa's company has been in business for one year, and he would not reveal its other investments, only saying it is backing the Royal De Castle building.

He said the company has received approval from the ministries of public works and water resources to commence dredging, starting near Phnom Penh, but that the government had not agreed to reinforce the riverbank.

"The government needs to act now to protect the riverbank from erosion," Chanaiwa said.

He added that he has urged the government to spend $300 million to $500 million on an embankment to protect the shoreline from erosion.

The mini-city would be built on reclaimed land from the river, said Chanaiwa, emphasising that local residents would not be forcefully evicted from the site.

But environmentalists caution that dredging could be detrimental to the Mekong.

"The Mekong is a very sensitive ecosystem - dredging the bottom would seriously affect the fish migration routes," said Bunra Seng, country director for Conservation International.

One key business leader said that he had heard nothing of the proposed project and that he doubted its credibility. 

MOST VIEWED

  • Proof giants walked among us humans?

    For years a debate has waged about whether certain bas relief carvings at the 12th-century To Prohm Temple, one of the most popular attractions at the Angkor Wat Temple Complex in Siem Reap province, depicted dinosaurs or some rather less exotic and more contemporary animal,

  • Long way to go before Cambodia gets a ‘smart city’

    Phnom Penh, Siem Reap and Battambang will struggle to attain smart city status without adopting far reaching master plans, according to officials tasked with implementing the program. The brainchild of the Association of Southeast Asian Nations (Asean), the smart city program seeks to link up

  • Japan bank buys major stake in ANZ Royal Bank

    Japan's largest bank acquired more than half of ANZ’s shares in Cambodia on Thursday, according to a statement from Kith Meng’s Royal Group. Japan's JTrust Bank, announced that they had acquired a 55% of stake in ANZ Royal Bank. According to a Royal Group

  • New US bill ‘is a violation of Cambodian independence’

    After a US congressmen introduced bipartisan legislation that will enact sanctions on Cambodian officials responsible for “undermining democracy” in the Kingdom, government officials and the ruling Cambodian People’s Party on Sunday said they regarded the potential action as the “violation of independence and sovereignty