June 8, 2017
On June 8, the Port Authority of Sihanoukville (PAS) was listed on the Cambodia Securities Exchange, and the Japan International Cooperation Agency (JICA) acquired equities of the initial public offering made available to strategic investors.
Japan has provided supports to the Sihanoukville Port for a long time, which is the only deepwater seaport in Cambodia. Starting with the 1999 Sihanoukville Port Urgent Rehabilitation Project, which was the first ODA loan to Cambodia following the end of civil strife there, JICA has provided continuous support for infrastructure and operations capacity building at the port through ODA loans, grant aid and technical cooperation.
Backed by firm economic growth in Cambodia, the volume of container freight handled at the port has been rapidly increasing and is expected to reach 680,000 TEUs* by 2020 (JICA estimate), and enhancing the handling capacity which is currently 500,000 TEUs is a priority. The funds procured by the initial public offering will be allocated to raise the handling capacity through increasing the number of cranes and building off-dock yard infrastructure.
Using this equity participation as an opportunity, JICA will further strengthen support to PAS, and promote trade in Cambodia through further capacity building at PAS, including more efficient port operations, enhanced international competitiveness and improved administrative capacity.
* A twenty-foot equivalent unit (TEU) is a unit of cargo capacity representing a twenty-foot container.