Reuters
PHNOM PENH: Two Chinese companies have reached a deal to build a 400km rail line, a steel plant and a sea port in Cambodia worth a combined US$11.2bil 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 yesterday. The rail link and port would cost US$9.6bil and the steel plant US$1.6bil.
The deal is the latest sign of China expanding its footprint in the frontier economies of a booming South-East Asia as the United States vies for influence in the region.
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