Cambodia Airports - Chinese in, French out.

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newkidontheblock
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Re: Cambodia Airports - Chinese in, French out.

Post by newkidontheblock »

Hope proper terminal gates are built, like the airport in PP. walking to and from the airplane while in the sweltering heat, in the rain, during dead of night, gets old fast.
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Re: Cambodia Airports - Chinese in, French out.

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I hear they're planning drop toilets in the middle of the concourse, just so the average tourist isn't inconvenienced by having to poo-poo away from others.

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Re: Cambodia Airports - Chinese in, French out.

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Cambodia embraces booming Chinese investment
As mainland money and visitors pour into Cambodia, China backs two new airports. Too bad about the French company that had an exclusive concession
By Danielle Keeton-Olsen
Published: Sep 18, 2018

The future of Cambodia’s economy, as Tekreth Samrach, chairman of the government-controlled flagship airline, sees it, is in tourism. And thanks to China, tourism, like many sectors in the economy, is surging. “To be frank, everyone goes to China to make money,” he says from his office decked with pilot caps and model planes. “So we have to go to China to make money, too.”

Following that logic, the government appears to be making a sharp break from its long-standing partnership with French infrastructure conglomerate Vinci. It’s drafting plans and starting work on two new airports backed by mainland money, despite granting an exclusive, 45-year concession on international airports to a company majority-owned by Vinci. That concession isn’t supposed to end until 2040. The government’s move is meant to address the rapid rise in tourism, but it also reflects Cambodia’s increasingly enthusiastic embrace of booming Chinese investment.

One of the new airports will serve tourism centre Siem Reap and the nearby 1,000-year-old temples. The government signed an agreement in 2016 with Chinese company Yunnan Investment Group and two others from Yunnan Province to invest in and build the project. Since March they have been prepping 750 hectares to the southeast of the Unesco World Heritage site. On the company’s website, the group’s chairman, Sun Yun, called it “a benchmark project for the Belt and Road Initiative”, referring to China’s development strategy to connect Eurasia in trade and transportation, with president Xi Jinping at the helm.

The plan for the second airport, in Phnom Penh, is more audacious. Announced in January, this project will be a joint venture between Cambodian developer Overseas Cambodia Investment Corp, or OCIC, and the State Secretariat of Civil Aviation, and built on 2,600 hectares of open land. The airport itself will cover 700 hectares and the rest will become an “airport city,” with a special economic zone, industrial area and housing developments, according to the secretariat’s deputy director-general, Sinn Chanserey Vutha. OCIC will invest $280 million, but the bulk of the funding, $1.1 billion, will come from the Bank of China, he says.

Both Sinn and Tekreth say they have few details about the Phnom Penh plans because the airport was directly ordered and arranged by prime minister HE. OCIC representatives declined to comment; the company is owned by Pung Kheav Se, a local tycoon and chairman of the country’s second-largest commercial bank, Canadia...
http://www.forbesindia.com/article/cros ... nt/51313/1
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Re: Cambodia Airports - Chinese in, French out.

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Siem Reap: Despite the plan to build a massive new airport close to Siem Reap city in the near future, the present Siem Reap airport authorities are determined to expand the domestic terminal in order to deal with the increasing numbers of passengers arriving from Phnom Penh and Sihanoukville.
The project is scheduled to take nine months, from March to November 2020 (during the low season in order to mitigate inconvenience), and during three or four of those months, domestic flights will be moved to the international terminal, said the news release.

The Siem Reap domestic terminal was last renovated in 2008.
business-and-finance/the-new-internatio ... 25123.html
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Re: Cambodia Airports - Chinese in, French out.

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China's BRI elbows EU players out of Cambodian airports
Fate of French operator Vinci casts pall over country's sky-high tourist ambitions
SHAUN TURTON, Contributing writer
January 29, 2020 13:01 JST

PHNOM PENH -- Lofty government ambitions to expand international tourism, combined with an influx of Chinese cash from Beijing's Belt and Road initiative, are shaking up Cambodia's airport industry and threatening to leave the country's single existing operator, France's Vinci Airports, out in the cold.

Two Chinese-backed international airports are currently under construction, one in Phnom Penh and another at Siem Reap. The Cambodian government last week announced it had shortlisted three Chinese construction companies to work on the capital's airport.

The projects, part of a wave of Chinese investment in Cambodia under Beijing's BRI infrastructure push, have a combined investment of more than $2 billion and are slated for completion within five years.

The question is where this will leave Vinci, which is not involved in either of the new projects. The company, through a majority owned subsidiary, has a monopoly agreement to operate Cambodia's existing international airports -- in Phnom Penh, Siem Reap and Sihanoukville -- until 2040.

The French company insists there is room for expansion at the current sites to accommodate the country's increasing air traffic, which reached 11.6 million passengers last year, according to figures released last week.

The government, however, aims to double tourist arrivals by 2025 and says it wants new airports to accommodate the planned influx of visitors, who increasingly come from China.

Sinn Chanserey Vutha, a spokesman for Cambodia's State Secretariat of Civil Aviation (SSCA), told the Nikkei Asian Review that Vinci's role in the sector is still up for discussion. He said no decision has been made about what will happen to existing airports once the two new ones became operational.

"According to government policy, we try to collaborate with the current airport operators and find a 'win-win' solution," Vutha said, adding that a meeting was planned for next month.

"We don't know yet whether we can collaborate together in airport development or whether [there will be] a compensation scheme."

The new projects come as Cambodia Airports -- the subsidiary 70% owned by Vinci and 30% by Muhibbah Masteron Cambodia, a Malaysian-Cambodian joint venture -- pushes ahead with its own expansion plans.

The company is extending the runway at its Sihanoukville location, where its terminal was recently revamped. It has also completed recent upgrades to terminals at the Phnom Penh and Siem Reap airports. Vinci -- which has a network of 46 airports across 12 countries and recorded 1.6 billion euros in consolidated revenue in 2018 -- says it has invested some 270 million euros in its Cambodian operations between 2011 and 2017.
Full article: https://asia.nikkei.com/Business/Transp ... n-airports
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Re: Cambodia Airports - Chinese in, French out.

Post by pczz »

plenty of smoking rooms then and mayve a quarantine area....
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newkidontheblock
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Re: Cambodia Airports - Chinese in, French out.

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So the government granted a monopoly to a French company on airports until 2040 and had now starting building airports with mainland China?

What’s the lesson?

Government contracts mean nothing. Everyone’s precious hard titles mean nothing. Soft title means less than nothing. Especially when a favored power player eyes what you have.

More fuel to the fire for not buying land, building a house, and owning a car in the Kingdom of Wonder.

Sorry to inflict my ranting. Please continue on the thread of how the wonderful Mainland Chinese will save Cambodia.
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Re: Cambodia Airports - Chinese in, French out.

Post by rogerrabbit »

newkidontheblock wrote: Thu Jan 30, 2020 10:28 am So the government granted a monopoly to a French company on airports until 2040 and had now starting building airports with mainland China?

What’s the lesson?

Government contracts mean nothing. Everyone’s precious hard titles mean nothing. Soft title means less than nothing. Especially when a favored power player eyes what you have.

More fuel to the fire for not buying land, building a house, and owning a car in the Kingdom of Wonder.

Sorry to inflict my ranting. Please continue on the thread of how the wonderful Mainland Chinese will save Cambodia.
I'm fairly sure that they have "monopoly" to solely operate the current airports. Not a monopoly for airports in general in Cambodia. Also it's good to notice that both of the new airports, in Siem Reap and Phnom Penh, are not actually located in city of PP or SR. The new PP airport for example is located in Takhmao.
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Re: Cambodia Airports - Chinese in, French out.

Post by CEOCambodiaNews »

The French company's Malaysian partner is also feeling the heat - Cambodia Airports is 70% owned by Vinci and 30% by Muhibbah Masteron Cambodia, a Malaysian-Cambodian joint venture.

Airport rivalry in Cambodia hurts Muhibbah’s shares
Friday, January 31st, 2020 at , Business | News
Investors sold down Muhibbah in the past 6 trading days, falling from RM2.31 to a 5-year low of RM1.75 yesterday
By PRIYA VASU / Graphic By ANIS SHAMSUL

MUHIBBAH Engineering (M) Bhd airport concession business in Cambodia faces fresh competition fears as Overseas Cambodia Investment Corp (OCIC) builds Cambodia’s largest new airport in Phnom Penh.

Investors sold down Muhibbah in the past six trading days, falling from RM2.31 to a five-year low of RM1.75 yesterday.

A source close to that matter told The Malaysian Reserve (TMR) that Muhibbah’s shares have been dragged by investors’ sentiment arising from possible revenue competition on its airport operations in Cambodia.

OCIC new airport could possibly shrink profit for Muhibbah that has stakes in three Cambodian International Airports, namely in Phnom Penh, Siem Reap and Sihanoukville.

More than 90% of associate earnings came from the Cambodian airports.

Although Muhibbah had a concession tenure until 2040 that guarantees stable income stream from its fullfledged airport revenue denominated in US dollar, it did not appear to warrant support for investors to maintain a ‘Buy’ on its shares.

“I believe the massive selldown was largely driven by investors’ woes on aggressive construction investment by the Chinese company in building the large Cambodia airport. Upon completion, it could affect Muhibbah’s revenue because its earnings are driven by our passenger traffic to the airport,” the source told TMR.

Last week, Cambodia Airport Investment announced that the process of designing the airport is near 60% completion.

The construction will be carried out in three phases with the first phase scheduled to be completed this year.

In a bid to deepen trade and diplomatic relations with China, Cambodia Prime Minister HE opened up the country for an influx of construction investment from China.

The airport has already paved a runway stretching 3,200m which drew international attention, particularly from the US that alleged the airport is possibly facilitating Chinese military activities.

“The Chinese company is very influential. One can tell by the sheer investment they have been pumping in Cambodia. Either way, Muhibbah still holds concession rights for the next 20 years for all the three airports under its purview,” the source added.

Muhibbah allocates some RM100 million annually for upgrading and expansion works in all its three airports in Cambodia and expects to continue to derive positive earnings from its airport businesses.
https://themalaysianreserve.com/2020/01 ... hs-shares/
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Re: Cambodia Airports - Chinese in, French out.

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June 23, 2020
Current international airport to be converted into military air and domestic air base
Phnom Penh International Airport, the current airport not far from the capital’s downtown will not be abandoned after the construction of the new one completes in 2023.

He made the affirmation while paying an inspection visit to the construction site of the new airport in Kandal and Takeo provinces this morning.

Mr HE added that Phnom Penh International Airport will be used as military airbase, domestic airport, cargo terminal, plane parking, etc.

Phnom Penh International Airport, formerly known as Pochentong International Airport, has operated in Cambodia even before the civil war kicked off in the 1970s. It is the busiest and largest airport in Cambodia, occupying a land area of 386.5 hectares in Khan Pursenchey.
https://www.khmertimeskh.com/737054/cur ... -air-base/
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