Problems and delays hound the Kingdom’s railway project
Efforts to get Cambodia’s train system rolling and improving the
country’s transport infrastructure have hit repeated problems and some
wonder if the US$142 million project might end up derailing completely.
In March, Australia logistics firm Toll Group and the Royal Group of
Cambodia decided to suspend all train operations in Cambodia for one
year beginning in April, according to a statement by the Asian
Development Bank (ADB). The two companies are part of a joint-venture
called Toll Royal Railway, which won a 30-year concession to run the
Cambodian Railway Network.
But construction delays due to last year’s heavy flooding, as well as
land acquisition problems, resettlement questions and cost overruns have
plagued the project. Toll Holdings told the Cambodian Finance Ministry
in a letter in March that it would suspend its work because the
sub-contracted firms that are building the railway network were taking
too long, and the project is now not profitable.
To be continued...
Source: Economics Today, Issue 114, April 02-08
Link: http://www.etmcambodia.com/blog.php?article=336
Are you in need of a loan? Do you want to pay off your bills? Do you want to be financially stable? All you have to do is to contact us for more information on how to get started and get the loan you desire. This offer is open to all that will be able to repay back in due time. Note-that repayment time frame is negotiable and at interest rate of 3% just email us (creditloan11@gmail.com)
ReplyDelete