The Cambodian government has greenlit plans to construct one of the world's largest airports in south-eastern Kandal province, although specifics are still being ironed out among key stakeholders.
As reported by The Phnom Penh Post, an investment proposal from Cambodia Airport Investment to build a massive $1.5 billion, 2,600-hectare airport in Kandal province's Kandal Steung district has received approval from the Council of Ministers. Cambodia Airport Investment is a joint venture between local conglomerate Overseas Cambodia Investment Corporation (OCIC) and the Cambodian government's State Secretariat of Civil Aviation (SSCA).
The project, expected to rival some of the world's largest airports, has seen OCIC signing a "cooperation framework agreement" with the state-run China Development Bank. The proposed 2,600-hectare airport would rank as the ninth-largest globally, just behind Chicago O'Hare airport and ahead of China's Beijing Capital International Airport. In contrast, the current Phnom Penh International Airport spans approximately 400 hectares.
Under the plan, OCIC will invest $280 million, with "foreign banks" providing $1.1 billion in funding. Upon completion, OCIC will hold 90% of the shares, with the remaining 10% allocated to the SSCA.
However, officials caution that the project is still in its infancy. According to Mr. Sin Chansereyvutha, a spokesman for SSCA, detailed plans and agreements are yet to be finalized, and discussions with OCIC have not commenced. Negotiations on various aspects of the project will require significant time and effort, he noted.
Moreover, the government must address existing agreements with Cambodia Airports, which holds concessions to operate Phnom Penh International Airport until 2040. Expansion plans proposed by Cambodia Airports last year have been met with government preferences for new airports, financed by Chinese banks.
Mr. Khek Norinda, PR and communications director for Cambodia Airports, refrained from commenting on ongoing negotiations or concession agreements but emphasized the importance of respectful dialogue for future airport development and national progress.