Chinese firms sign $11 billion deal in Cambodia

PHNOM PENH, Cambodia (AP) - Two Chinese companies have signed an $11.2 billion deal to build a new railway, a port and a steel factory in Cambodia.

San Sok Lika, a Cambodian official working with Chinese-owned Cambodia Iron and Steel Mining Industry, said Friday that construction on the projects should begin by July.

The projects include a 400-kilometer (249-mile) rail line which will run from a steel plant in northern Preah Vihear province to a port in Koh Kong in Cambodia's southwest.

A statement issued by the two companies said the deal was signed Dec. 31.

Steel Mining Industry is based in Cambodia's capital, Phnom Penh. The other company involved in the project, China Railway Group, is based in China.

Chinese companies have invested heavily in impoverished Cambodia over the last decade in projects ranging from hydroelectric dams to agriculture.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Top Stories

  • Growing Strong
    Seattle marijuana farmers are busy preparing their first crop for retail sales

  • Not the End
    Officials have another trick up their sleeves to help save King County's bus service

  • Go Sherm!
    Richard Sherman recognized along with Beyonce, Jeff Bezos and the Pope
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know a student who stands out in the classroom, school and community?
Help make their dreams come true by nominating them for a $1,000 scholarship and a chance to earn a $10,000 Grand Prize. Brought to you by KIRO Radio and Comprehensive Wealth Management.

Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.