Friday, November 03, 2006

Resort Island Development by Russian Firm Will Take Years

Friday, November 3, 2006

By John Maloy and Lor Chandara
THE CAMBODIA DAILY


It will be several years before Koh Pos will be fully developed as a resort island, according to the executive director of the Russian firm that recently secured a 99-year lease to the property located off the coast of Sihanoukville.

Alexander Trofimov of the Koh Pos Investment Group, Ltd said Thursday that it might be at least three years before his company can form a partnership to construct the $300-million resort they are hoping to build on the 120-hectare island.

"It’s like building a new city in jungle forest" he said. "We must work for a long time, but in five years we will see a big difference."

In the meantime, Trofimov said the company is going to focus on getting a bridge built to the island from Hawaii Beach on the mainland—for which the company has also secured a 99-year lease.

Trofimov said that studies are still being made for the bridge, but he hopes to have the plan ready for government approval in about three months.

Trofimov also denied any ties to the Sea Snake Investment Group, another Russian firm that recently secured a 99-year lease for Sihanoukville's Victory Beach. The businesses currently on that beach are set to be evicted Sunday.

"[Sea Snake] is a company belonging to one person," while Koh Pos Investment Group is a part of a big international conglomerate with many projects around the world totaling $9 billion, Trofimov said.

No comments: