New ter­mi­nal to al­low port to process big­ger loads

The Nation - - AEC -

CAM­BO­DIA’S only deep-sea port, op­er­ated by state- owned Si­hanoukville Au­tonomous Port (PAS), will launch a new mul­ti­pur­pose ter­mi­nal on June 25, to ac­com­mo­date larger ves­sels with heavy loads, it said yes­ter­day.

PAS Chair­man and CEO Lou Kim Ch­hun said the in­au­gu­ra­tion of the mul­ti­pur­pose ter­mi­nal will be presided over by Prime Min­is­ter Hun Sen.

Once in op­er­a­tion, the new fa­cil­ity will be able to load ship­ments weigh­ing in the range of 40,00050,000 tonnes. This is more than twice the limit of ex­ist­ing ter­mi­nals.

“As the ter­mi­nal at the sea-port is deeper and can han­dle big­ger ves­sels with heav­ier loads, sea trans­porta­tion costs will be­come cheaper,” Kim Ch­hun said.

He said con­struc­tion of the new ter­mi­nal be­gan in early 2015 us­ing a soft loan from the Ja­panese de­vel­op­ment agency JICA. The fi­nal cost will be more than $70 mil­lion.

Cam­bo­dia Freight For­warders As­so­ci­a­tion (CFFA) Pres­i­dent Sin Chan­thy said that PAS’s new fa­cil­ity will con­trib­ute to a greater level of com­pet­i­tive­ness in ex­port­ing goods and will sim­plify the work of freight for­warders.

With­out the new ter­mi­nal, Chan­thy said PAS could not han­dle large ves­sels. This led to fewer cus­tomers and con­ges­tion while at port.

“With the new ter­mi­nal be­com­ing op­er­a­tional, large ves­sels will make up a larger part of the traf­fic. Goods will be de­liv­ered on time in a shorter pe­riod which will strengthen the busi­ness’s com­pet­i­tive­ness,” he said.

Late last year, PAS un­veiled plans to build a new con­tainer ter­mi­nal as part of its ex­pan­sion project af­ter sign­ing an agree­ment for a low-in­ter­est loan of some $209 mil­lion.

Com­ple­tion in 2022 Con­struc­tion will start by early 2019 and is sched­uled to be com­pleted by the end of 2022.

PAS be­came the fifth listed firm on the Cam­bo­dia Stock Ex­change (CSX) in June last year, af­ter suc­cess­fully rais­ing $27 mil­lion in its ini­tial pub­lic of­fer­ing process.

The com­pany saw 1,000 shares traded on Wednesday – worth about $1,250. How­ever, there was no move­ment in its share price which re­mained at 5,000 riel each, sim­i­lar to the day be­fore.

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