Cambodian authorities said Friday they expect work on a $11.2 billion project that includes a 249-mile railway, a port and a steel factory, to begin in July, according to published reports.
The Chinese-owned Cambodia Iron and Steel Mining Industry will build a railway from a steel plant in northern Preah Vihear province to a port in Koh Kong in southwestern Cambodia, the South China Morning Post reported Friday.
The railway and port are expected to cost $9.6 billion, and the steel plant is expected to cost $1.6 billion. The projects could take as long as four years to complete.
Financing details of the contracts, which were signed Dec. 31, were not disclosed.
Mike Obel assigns, edits and writes stories about business, markets, finance and economics. Before coming to International Business Times, he worked on the Finance Desk of...