PHNOM PENH (Khmer Times) – The nation’s largest port is planning an initial public offering later this year to cover the costs of much-needed expansion, a senior port official said.
Lou Kim Chhun, Chairman and CEO of Sihanoukville Autonomous Port (PAS), said the state company intends to use capital raised on the Cambodian Stock Exchange to repay an $80 million loan from the Japanese government for the construction of a new multi-use port facility.
“By being listed on the stock exchange, this will allow us to pay back the Japanese loan step by step,” said Mr. Chhun, adding that it would also encourage further investment in the Kingdom’s only deepwater port.
Sihanoukville Autonomous Port was built in 1960 and can accommodate 10,000 DWT cargo ships and 20,000 DWT container ships. The port handled about 330,000 TEUs last year, or about 60 percent of the nation’s total goods transactions.