Cambodia and China official signs partnership agreement on Phnom Penh-Bavet expressway project

The Phnom Penh-Bavet Expressway project has signed a formal partnership agreement between the state and the private sector to reach the groundbreaking ceremony on June 7.

This signing ceremony was held in the presence of HE Sun Chanthol, Senior Minister of Minister of Public Works and Transport, Representative of the Royal Government of Cambodia and Mr Zhou Yong, Representative of China Road and Bridge Corporation (CRBC) on May 18, 2023.

At the same time, the Ministry of Public Works said that the Public Private Partnership Agreement (PPP) is divided into two main parts, including:

(1) PPP Agreement, which sets out the main common principles for implementing the construction and commissioning of the Phnom Penh-Bavet Expressway

(2) the relevant annexes which detail the implementation of the principles agreed upon in the contract.

The ministry said that the Phnom Penh-Bavet expressway project was agreed upon in principle under the PPP agreement signed on this occasion, with a length of 135.10 km, built in four lanes, passing through Kandal, Prey Veng and Svay Rieng provinces. Built with an investment of about $ 1.35 billion and a construction period of 4 years. 

Meanwhile, the construction of the bridge across the Mekong River will use resources from the national budget, with the construction contract given to the same company CRBC, which leads to travelling across the bridge will be free. The construction of this bridge is to be completed before or simultaneously with the opening of this road.

It should be noted that the Phnom Penh-Bavet Expressway project will officially open the groundbreaking ceremony on June 7, 2023, under the presidency of PM Hun Sen, while the Phnom Penh-Siem Reap Expressway project is scheduled to complete the feasibility study at the end of May and a Memorandum of Understanding (MoU) is expected to be signed soon.

Source: Construction & Property News