Logo of Phnom Penh Post newspaper Phnom Penh Post - Millionaire Mong Reththy builds his own port

Millionaire Mong Reththy builds his own port

Millionaire Mong Reththy builds his own port

million.jpg
million.jpg

Mong Reththy has created the first 'Big M' in Cambodia and built a monument with his personal trademark at his new Oknha Mong Port 45km up the coast from Sihanoukville.

Aprivate port is the latest addition to Mong Reththy's empire. A spokesman for the

Cambodian business magnate, who asked not to be named, confirmed the plans to the

Post on June 29.

The new port, named Oknha Mong Port, is being built 179 kilometers southwest of Phnom

Penh, off Route 4 to Sihanoukville. Fully owned and operated by the Mong Reththy

group, it will be open to all commercial ships.

Once finished in about 18 months, the port will feature a 300 meter jetty serving

local and foreign vessels to a maximum draft of five meters. The port will operate

a piloting and tugboat service and maintain an on- going channel dredging program.

It will also have its own customs, police and immigration offices.

When asked about their reasons for building a new port just 76 kilometers by road

(about 45km up the coast) from the recently expanded Sihanoukville port, the company

spokesman said: "If there is no competition, there is no progress. And Mong

Reththy wants to serve his country."

The spokesman said he believed that the new port will hold some competitive advantages

over Sihanoukville's. Apart from being one toll station closer to Phnom Penh, it

will be more cost-efficient for smaller users. Without big volumes, shipping out

of Sihanoukville is simply too expensive, he claimed. For those, the new port will

be "much cheaper".

The Mong Reththy spokesman declined to give any figures on how much money the company

is spending on the project.

Nor could he give an indication of when the now half-finished port will be up and

running.

"Because of the dredging, we don't know. But we hope to be able to open it as

soon as possible," he said. However, local sources said that the port will not

open for another 18 months to two years.

Mong Reththy only went ahead with his port plans after getting Prime Minister Hun

Sen's support. But the company spokesman denied that the project was part of any

form of a private-public partnership. "We are not getting anything back from

the government", he said.

Apart from financing the port, Mong Reththy has just finished building a 16 kilometer

all-weather road connecting the port to the highway. In the late 1990s, he established

an 11,000 hectare (4000 ha planted) commercial oil palm plantation in the area. This

made the headlines in 1998 when squatter families were removed from their homes in

Phnom Penh and resettled there as agricultural workers.

MOST VIEWED

  • Cambodia-Thailand rail reconnected after 45 years

    A railway reconnecting Cambodia and Thailand was officially inaugurated on Monday following a 45-year hiatus, with the two kingdoms’ prime ministers in attendance at the ceremony. On the occasion, Cambodian Prime Minister Hun Sen and Thai Prime Minister Prayut Chan-o-cha travelled together from Thailand’s

  • Thousands attend CNRP-organised pro-democracy vigil in South Korea

    Thousands of supporters of the Supreme Court-dissolved Cambodia National Rescue Party (CNRP) on Saturday gathered in the South Korean city of Gwangju to hold a candlelight demonstration calling for the “liberation” of democracy in Cambodia. Yim Sinorn, a CNRP member in South Korea, said on

  • US Embassy: Chinese trade does not help like the West’s

    The US Embassy in Phnom Penh on Friday said relations between China and Cambodia did not create jobs or help industry when compared to the trade between the Kingdom and the US. “About 87 per cent of trade [with China] are Chinese imports, which do not

  • New airport study set for 2019

    A feasibility study on the construction of a new airport in the Kingdom will be launched later this year, according to a Ministry of Tourism spokesman on Monday. The plan was approved last week in a meeting held by the Ministry of Economy and Finance