Prime Minister Hun Sen said construction of the new Phnom Penh International Airport would not lack capital investment despite the economic impact of Covid-19.
He was speaking during a visit to the airport site in Kandal province on Monday. The construction is 30 per cent complete.
“The construction requires $1.5 billion in capital investment and the company has not mentioned cash shortages or suspension of construction, so the airport work goes on as scheduled and all site work as usual,” the prime minister said.
The airport will be rated 4F, which means it will be able to handle the largest aircraft, including the Airbus A380-800 and Boeing 747-800 to land.
“I hope Cambodia will attract more tourists and investors after the new Phnom Penh International Airport is ready,” he said.
Overseas Cambodia Investment Corporation (OCIC) CEO Pung Khieu Se said the airport is being constructed on 2,600ha in Kandal province’s Kandal Stung district and is scheduled for its phase one operations by 2023.
The first phase will be able to receive 13 million tourists each year. Currently, the project has spent $120 million for consulting, design, foundation drilling, and soil work.
“The project will cost another $208 million from now until the end of the year, and from July we will spend $1.2 million per day.
“Foreign credit funds are not available immediately and current expenditure is dependent on local funds. However, the company will do its best to not obstruct the project,” Khieu Se said.
OCIC will hold a 90 per cent stake with another Chinese company in the project, while the remaining 10 per cent belongs to the State Secretariat of Civil Aviation.