PHNOM PENH: Sihanoukville Autonomous Port (PAS), Cambodia’s largest port, has reported a significant increase of about 25 percent in revenue in the first six months of this year.

According to its Second Quarterly Report 2024, PAS generated approximately US$52 million in revenue during the first half of 2024, up more than US$10 million compared to the same period in 2023.

As of June 30, PAS’ total asset rose by 5.29 percent to US$420 million, while its total equity is over US$250 million, a year-on-year increase by 5.69 percent, the report added.

Analysts attribute the revenue growth to several factors. One potential driver is the continued positive performance of Cambodia’s economy.

The country is expected to see steady growth again this year, fueled by sectors like tourism and garment manufacturing. This translates to an increase in imports and exports, keeping the port busy.

Another contributing factor could be the recent completion of a new container terminal at PAS. This expansion, finalised in late 2023, allows the port to accommodate larger vessels and handle a greater volume of cargo.

The increased capacity is likely a significant factor in attracting new business and boosting revenue.

The PAS is the Kingdom’s sole international and commercial deep seaport.

PAS plans to develop the port in three phases. By 2026, the new container terminal, which will be 350 metres long and 14.5 metres deep with a container capacity of 1.45 million TEUs per year, is expected to be completed.

The second phase of the new container terminal will be implemented in 2028 and the third phase, to be completed in 2029, will increase the container capacity to more than 2.67 million TEUs per year.