Cambodia’s Globalcam Project Development Ltd. entered into an agreement yesterday with Malaysia-based Mahdi Holdings Investment to jointly build expressways in the kingdom.
Thlang Vuthy, project manager at Globalcam, said his company was keen to build expressways across the country and development on National Road 7 would be first priority.
“The budget to build expressways is big and for that reason we’ve got a Malaysian partner that is providing the financing through a UK bank,” said Mr Vuthy.
Anuwar Haji Parman, executive vice president of Mahdi Holdings, said his company was only working on the funds that need to be made available for developing the project.
“The project development is done by Globalcam,” he said.
Early this year, Globalcam signed an agreement with South Korea’s Eco Energy Co. Ltd. to build a $536-million high-speed expressway from Phnom Penh to Sihanoukville city.