Chinese firm plans $13.6b rail, port, steel projects in Cambodia
PHNOM PENH (REUTERS) - Two Chinese companies have reached a deal to build a 400-km rail line, a steel plant and a sea port in Cambodia worth a combined US$ 11.2 billion (S$ 13.67 billion) in what would be by far the impoverished country's biggest-ever investments.
Cambodia Iron and Steel Mining Industry Group has contracted the China Railway Group to build a railway to link a steel facility in northern Preah Vihear province to a port at the southern commercial island of Koh Kong, the company's chairman said on Wednesday.
The rail link and port would cost $9.6 billion and the steel plant $1.6 billion.
The deal is the latest sign of China expanding its footprint in the frontier economies of a booming Southeast Asia as the United States vies for influence in the region.