CDB provides loan for Phase 1 of Kampot International Tourism Port Project

Project narrative

On April 26, 2018, Guangxi Beibu Gulf International Port Group and Try Pheap Group Co. Ltd (TPG) signed a cooperation agreement regarding the Kampot International Tourism Port Project. China Development Bank (CDB) subsequently issued a loan to Kampot Logistics and Port Company Limited (贡布物流和港口公司 or KLP) — a special purpose vehicle and joint venture of Guangxi Beibu Gulf International Port Group and Try Pheap Group Co. Ltd (TPG) — for Phase 1 of the Kampot Multipurpose Port Project. The face value and borrowing terms of the loan are unknown. The purpose of the project is to construct a deep-water harbor capable of accommodating large vessels in Bokor City within Kampot province. Upon completion, the seaport in Kampot is intended to connect the region’s coastal shipping corridor, linking with Ha Tien, Vietnam and Thailand’s Trat province, along with Cambodia’s Sihanoukville and Koh Kong provinces. The seaport is expected to have a maximum depth of 16-18 meters and the capacity to accommodate large vessels of up to 30,000 tons. The project site is located in Chum Kriel village, Chum Kriel commune, and Teuk Chhou district — about 6 km southeast of Kampot town, along the Dang Prek estuary of the Kampot river which flows into Kampot bay. The total cost of the three-phase project is $1.5 billion. Phase 1 of the Kampot International Tourism Port Project involved the construction of a 450-meter-long and 60-meter-wide berth, a storage area of 8,800 square meters, a 1,330 square meter-the inspection building, and an administrative building. The total cost of Phase 1 was $140 million. China Harbour Engineering Co Ltd (CHEC) was the EPC contractor responsible for Phase 1. Work formally began at the site on May 5, 2022 with a groundbreaking ceremony presided over by Cambodia’s Minister of Public Works and Transport Sun Chanthol. However, the construction (EPC) contract between CHEC and KLP was not signed until May 5, 2023. The project’s Phase 1 inauguration ceremony took place on June 6, 2024.