Plans to develop a Cambodia-South Korea Friendship Bridge is now being discussed in which form of financial assistance that will be provided by the South Korea government, Transport Minister Sun Chanthol said on Friday.
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Speaking during a press conference, Minister Sun said the South Korea government is now taking into account that the financial assistance whether it would be a loan or grant aid to provide for the project development.
“The project would cost relatively high at around $100million and we proposed to the South Korean government to provide the financial assistance in grant aid,” he said.
“But that would be impossible, so the Korean government is taking consideration. It would be a half of the total amount to be provided in grand aid and a loan,” Mr Chanthol noted.
His comment came after Prime Minister Hun Sen had requested the South Korean president Moon Jae-in to help construct a bridge during his official visit to the country in early February.
Mr Hun Sen said so at a recent opening ceremony of the National Road Number 2 and Number 22 improvement project, which also funded by the South Korean government.
He said now the Kingdom has a Cambodia-Japan and Cambodia-China Friendship Bridge. Therefore, he suggested South Korea should consider building one.
The premiere added that the location to build the bridge will be from the Chroy Changvar area to Svay Chhrum Arey Ksat, to the east of Phnom Penh, which will benefit people who live in that area.
According the Transport Ministry, the bridge location has already finished its conducting feasibility.
According to government’s figure, bilateral trade between Cambodia and Korea was valued at $1 billion last year, while Korean companies doing business and investing in Cambodia, is reportedly recorded with investment capital amounting to $5 billion.