PHNOM PENH: The Japanese government has provided a US$383.22 million concessional loan to implement the new container port development project at Sihanoukville Port Phase 1.

A concessional loan agreement amount of 41.288 billion yen (approximately 383.22 million US dollars) was signed by Deputy Prime Minister Prak Sokhon, Minister of Foreign Affairs and International Cooperation of the Kingdom of Cambodia, and Mr. HAYASHI Yoshimasa, Minister of Foreign Affairs of Japan, for the implementation of the new container terminal development project at Sihanoukville Port, Phase 1.

Following the two countries’ previous commitments earlier this year, the concession loan will significantly contribute to the expansion and modernization of the Sihanoukville Autonomous Port, transforming it into a main deep-sea port for Cambodia and the region.

The Japanese government has provided several concessional loans to help expand the capacity of Sihanoukville Port, including the Sihanoukville Port Emergency Rehabilitation Project (2005), Sihanoukville Port Emergency Expansion Project (2009), Sihanoukville Port Economic Zone Construction Project (2012), and Sihanoukville Port Multi-Purpose Port Development Project (2018), with a total budget of approximately 179.23 million US dollars.

As well as some other ongoing projects, such as the project to build a container port in Sihanoukville Port (2021-2025), and the project to build a CFS warehouse in Sihanoukville’s port economic zone (2020-2023), and the project to develop navigation system management. The port of Sihanoukville (2021-2023) has a budget of approximately 215 million US dollars.