China loans 200 mln USD to improve Cambodia's roads, bridges
China here on Tuesday signed agreements with Cambodia to provide 195.7 million U.S. dollars of preferential loans to help improve the kingdom's national roads and construct bridges upon its major rivers.
Representatives from both sides signed the two agreements in presence of Prime Minister Hun Sen and other senior government officials as well as Chinese Ambassador to Cambodia Zhang Jinfeng.
Under the first agreement, the Chinese government extends 51.9 million U.S. dollars of concession loan for the Cambodian Ministry of Public Works and Transportation to rehabilitate the 127- kilometer-long National Road No. 76 from Snoul District of Kratie Province to Sen Monorom District of Mondulkiri Province.
As contractor of the agreement, the China Road and Bridge Corporation will start the work, which features the DBST technology (Double Bituminous Surface Treatment), on Jan. 31, 2007 and finish it on May 30, 2010.
Under the second agreement, the Chinese government provides 143.8 million U.S. dollars of preferential buyer's credit loan for the Cambodian Ministry of Public Works and Transportation to design and construct the 109-kilometer-long National Road No. 8 from Kandal Province to the Cambodian-Vietnamese border, the 1,060- meter-long Prek Tamak Bridge located on the upstream of the Mekong River, and the 975-meter-long Prek Kdam Bridge located on the downstream of the Tonle Sap River.
As contractor of the agreement, the Shanghai Construction ( Group) General Company will finish the road project in 40 months and the bridge projects in 50 months.
Zhang Jinfeng said that these projects bear witness to the ever strong friendship between the two nations.
Meanwhile, Cambodian Minister of Economics and Finance Keat Chhun expressed appreciation for China's help.
Source: Xinhua
Representatives from both sides signed the two agreements in presence of Prime Minister Hun Sen and other senior government officials as well as Chinese Ambassador to Cambodia Zhang Jinfeng.
Under the first agreement, the Chinese government extends 51.9 million U.S. dollars of concession loan for the Cambodian Ministry of Public Works and Transportation to rehabilitate the 127- kilometer-long National Road No. 76 from Snoul District of Kratie Province to Sen Monorom District of Mondulkiri Province.
As contractor of the agreement, the China Road and Bridge Corporation will start the work, which features the DBST technology (Double Bituminous Surface Treatment), on Jan. 31, 2007 and finish it on May 30, 2010.
Under the second agreement, the Chinese government provides 143.8 million U.S. dollars of preferential buyer's credit loan for the Cambodian Ministry of Public Works and Transportation to design and construct the 109-kilometer-long National Road No. 8 from Kandal Province to the Cambodian-Vietnamese border, the 1,060- meter-long Prek Tamak Bridge located on the upstream of the Mekong River, and the 975-meter-long Prek Kdam Bridge located on the downstream of the Tonle Sap River.
As contractor of the agreement, the Shanghai Construction ( Group) General Company will finish the road project in 40 months and the bridge projects in 50 months.
Zhang Jinfeng said that these projects bear witness to the ever strong friendship between the two nations.
Meanwhile, Cambodian Minister of Economics and Finance Keat Chhun expressed appreciation for China's help.
Source: Xinhua
2 comments:
Approximately 25% of US$200 million loan will go to key Cambodian government officials, the middle-men and facilitators. The Chinese companies will get 75% of the money and use sub-standard building materials to improve Cambodian roads and bridges.
Everyone involved is a winner and Cambodian people are sure losers in this deal. This deal could not possibly go ahead without the consent of the top corrupt officials.
The roads and bridges will probably be well constructed. China will need them when 20 or 30 million Chinese move into Cambodia!Don't you see the plan?
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