PHNOM PENH, Aug. 8 (Xinhua) -- The Cambodian government has approved in principle a local company's proposal to develop two lakes on the outskirts of Phnom Penh into an eco-friendly satellite city, local newspapers reported Wednesday.
Toumpun lake and Cheong Ek lake, which together total 2,572 hectares in area, in Meanchey and Dangkor districts respectively, have been granted to ING Holding for development in accordance with a Council of Ministers directive dated May 24, 2006, according to the Rasmei Kampuchea newspaper.
The government has agreed in principle to develop Toumpun lake and Choeng Ek lake to become a green satellite city, said the directive, reports the Cambodia Daily.
Stressing that the government had agreed "only in principle," Phnom Penh Governor Kep Chuktema said that the firm must carry out a study on the development's potential impacts before it can begin construction.
"The company must study the social and environmental impacts on those areas," said Kep Chuktema, adding that Choeng Ek lake and Toumpun lake are essential for Phnom Penh's drainage system.
According to ING Holding General Director Lim Bun Suor, the company has conducted studies on the infrastructure with technical assistance from Singapore.
The new city will host commercial buildings, residential buildings and recreational facilities all built to an international standard, said Phnom Penh Governor Kep Chuktema.
Over 38 million U.S. dollars will be used to develop the city, according to Municipal Land Management Director Chhay Rithy.
The satellite city development is scheduled to be complete in 2025, according to the company.
Toumpun lake and Cheong Ek lake, which together total 2,572 hectares in area, in Meanchey and Dangkor districts respectively, have been granted to ING Holding for development in accordance with a Council of Ministers directive dated May 24, 2006, according to the Rasmei Kampuchea newspaper.
The government has agreed in principle to develop Toumpun lake and Choeng Ek lake to become a green satellite city, said the directive, reports the Cambodia Daily.
Stressing that the government had agreed "only in principle," Phnom Penh Governor Kep Chuktema said that the firm must carry out a study on the development's potential impacts before it can begin construction.
"The company must study the social and environmental impacts on those areas," said Kep Chuktema, adding that Choeng Ek lake and Toumpun lake are essential for Phnom Penh's drainage system.
According to ING Holding General Director Lim Bun Suor, the company has conducted studies on the infrastructure with technical assistance from Singapore.
The new city will host commercial buildings, residential buildings and recreational facilities all built to an international standard, said Phnom Penh Governor Kep Chuktema.
Over 38 million U.S. dollars will be used to develop the city, according to Municipal Land Management Director Chhay Rithy.
The satellite city development is scheduled to be complete in 2025, according to the company.
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