IFC starts to study a project logistics centre in Sihanoukville

The Sihanoukville Logistics Center project is underway after an agreement was signed in April and is expected to be completed by the end of November.

According to the first meeting on June 1, 2023, the Sihanoukville Logistics Center project was studied by the International Finance Corporation (IFC) of the World Bank, which signed an agreement with the Ministry. Public Works and Transport during April.

In addition, the meeting discussed six key points, including:

(1) Introduction to the working group composition of the International Finance Corporation (IFC)

(2) Confirmation of the Royal Government’s objectives on this project and priorities

(3) Discussion of key findings of reporting for business cases in the form of a public-private partnership (PPP), issues or risks that may affect the project.

(4) Presentation on the working methods of the International Finance Corporation (IFC)

(5) Proposing a method of communication and coordination between the Ministry of Public Works and Transport, the Ministry of Economy and Finance and the International Finance Corporation (IFC)

(6) A presentation on the scheduled dates that will provide the results of the study and the next steps.

The project will be studied in stages where the government will have to pay a fee to the IFC for each phase, but this money will be returned to the government by the company that wins the public bidding.

It should be noted that Sihanoukville Logistics Center is one of the two priority logistics centres that will be developed in accordance with the Comprehensive Intermodal Transport Master Plan 2022-2030 and the second logistics centre. Following the development of the Phnom Penh Logistics Complex in Cambodia, which will be able to turn Cambodia into a regional logistics hub in Southeast Asia. (Read more)

Meanwhile, in collaboration with IFC, the project is expected to be phased in with a total capital of approximately US$ 200 million. (Read more)

The Sihanoukville Logistics Center will contribute to the capacity of Sihanoukville Port, Cambodia’s only international deep-sea and commercial port, managing two-thirds of all container traffic through the country.

Source: Construction & Property News