Chinese firm reveals locations of US$160-million three parking lots project in Phnom Penh

China Good Cars Holding Ltd recently announced that the first location of its US$160 million three parking lot projects will be at the roundabout marking the border of Phnom Penh and Kandal provinces. Meanwhile, the second location will be on National Road 6 on the outskirts of Phnom Penh, while the third location remains under consideration.

The firm disclosed this information during a meeting with Phnom Penh Governor HE Khuong Sreng on 30 June, as reported by the National Radio of Cambodia.

According to the company’s representative Oknha Chan Sothea, China Good Cars Holding Ltd has two main objectives: to build parking lots and to import delivery trucks and public buses to Phnom Penh.

For the first phase, the investment will be focused on the modern parking garages on the outskirts of Phnom Penh to ease traffic congestion. The second phase is the investment in modern public buses connecting the central city areas to the suburbs as well as the nearby provinces.

In response, HE Khuong Sreng expressed his optimism for the project as it is in line with the government’s masterplan, which is to enhance and build more additional parking spaces, especially in congested areas.

HE Khuong Sreng also recommended that the firm should undertake careful study before making investment decisions, as there have been many companies showing interest in such investments, but have not been successful due to the lack of study.

The original request regarding this project was made during a meeting between the company representative and HE Sun Chanthol, Minister of Public Works and Transport, at the Ministry of Public Works and Transport on 05 May 2020.(This news came from Construction-Property.com)