Cambodia Investment Review
The Techo International Airport (TIA) hosted a VIP visit from His Excellency Rath Sovannorak, Deputy Governor of the National Bank of Cambodia (NBC), along with a delegation of senior NBC executives and prominent bond investors. This visit underscored the strategic significance of TIA in Cambodia’s economic and infrastructural development.
Located 19 kilometers from Phnom Penh, TIA is a greenfield airport covering a total land area of 2,600 hectares. Classified as a 4F airport, TIA is being developed in three phases, with an investment budget for Phase 1 amounting to USD 1.5 billion, excluding land costs. Currently, construction is approximately 78% complete, with total investment to date reaching USD 1.134 billion. Of this, USD 340.5 million was raised through the issuance of airport bonds to local financial institutions, insurance companies, corporates, and individuals.
Average Monthly Investment Of USD 50 Million
During the visit, it was highlighted that the TIA project employs 16,000 staff and workers, with an average monthly investment of USD 50 million. The construction is in its final phase, with the remaining USD 300 million earmarked for MEP, ICT, and ID works. This phase includes the installation of specialized airport systems such as security and baggage handling systems, airfield works including apron pavement and airfield lighting, the construction of a dyke, fencing, and pump stations, as well as testing, commissioning, and Operational Readiness and Airport Transfer (ORAT).
Read More: Explainer – Airports in Cambodia
The TIA project is an international collaboration involving world-class architects, consultants, and contractors. Foster and Partners from the UK have integrated green infrastructure into their designs. Heerim Architects and Planners from South Korea serve as the Project Management Consultant, while Changi Airport International provides consultancy for commercial planning and the pre-operating phase, including aerodrome certification and ORAT. RLB Singapore acts as the quantity surveyor, and China Construction Third Engineering Bureau Co., Ltd. is the main contractor for constructing the passenger terminal building.
In his welcome speech, Lok Neak Oknha Dr. Pung Kheav Se, Chairman of Canadia Group, emphasized the critical role TIA will play as a new gateway to Cambodia. “The TIA project is not just an airport; it’s a strategic asset for the nation’s future. We look forward to continued collaboration and welcome new airport bond investors from different banks as the project nears completion,” Dr. Pung stated.
Projects That Drive Growth & Prosperity For Cambodia
His Excellency Rath Sovannorak highlighted NBC’s commitment to supporting projects that drive growth and prosperity for Cambodia. “The development of TIA is a testament to Cambodia’s progress and our dedication to enhancing our infrastructure. NBC is proud to support this endeavor that will significantly boost our economy,” he said.
Guests at the event had the opportunity to engage in an informative session about the airport’s future operations, ensuring that all stakeholders are well-informed about the project’s milestones and future prospects. Prominent figures from the banking sector attended, including executives from Prince Bank, Foreign Trade Bank, ABA Bank, Acleda Bank, and various Taiwanese, Malaysian, and Thai banks. Their presence underscored the project’s importance to Cambodia’s financial community.
As TIA approaches its completion, the first test flight is scheduled for August 2024, marking a significant milestone in the project’s timeline. This event reflects the concerted efforts of all stakeholders involved and the collaborative spirit driving Cambodia’s infrastructural advancements.
