Cambodia and China Thursday signed five agreements concerning the Funan Techo Integrated Water Resources Management Project, widely known as the Funan Techo Canal (FTC).
The official signing ceremony was presided over by Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the Council for the Development of Cambodia (CDC), and Wang Tongzhou, Chairman of China Communications Construction Company (CCCC), in Phnom Penh on April 17.
The first two deals pertain to Shareholders’ Agreement and an Investment Agreement for the Funan Techo Integrated Water Resources Management Project, were signed between Funan Techo Canal Innovest Co Ltd and China Road and Bridge Corporation (CRBC), a subsidiary of China Communications Construction Company (CCCC).
The third deal was on ‘Public Private Partnership (PPP) Contract’ for the same project, signed between the Royal Government of Cambodia (RGC) and Funan Techo Coastal-Inland Waterways Company Limited.
The fourth and fifth deals pertained to the ‘Engineering, Procurement and Construction (EPC) Contract’ and the ‘Operation and Maintenance Contract’, both signed between Funan Techo Coastal-Inland Waterways Company Limited and China Road and Bridge Corporation (CRBC).
Peng Ponea, Minister of Public Works and Transport (MPWT), and Pung Kheav Se, Chairman of the Overseas Cambodian Investment Corporation (OCIC), were present along with provincial governors, stakeholders, CRBC and CCCC board members.
According to the CDC announcement, the Funan Techo Integrated Water Resources Management Project represents a milestone in Cambodia–China cooperation under the Belt and Road Initiative (BRI) and the Diamond Cooperation framework.
The FTC project aimed to strengthen the building of a shared future community between the two nations in the new era, the statement added.
It is also expected to make a substantial contribution to multiple sectors that directly impact citizens’ livelihoods. It also marks a major step toward transforming ’s maritime and inland waterway transport landscape.
The canal was designed to accommodate vessels of up to 3,000 deadweight tonnage (DWT). It will connect the Mekong River to the sea, passing through four provinces including Kandal, Takeo, Kampot and Kep.
