Phnom Penh (FN), May 6 - The Japanese had approved a $200 million loan to Cambodia.

The loan will be used to build another deep-water port in Sihanoukville.

The agreement was reached Friday during a bilateral meeting between the Cambodian Ministry of Public Works and the Japanese Ministry of Land, Infrastructure, Transport, and Tourism.

The port will be 250m long and 14.5 meters deep and equipped with modern facilities that will allow large vessels to dock, according to Cambodian Minister Sun Chanthol.

"The port is built in response to the increase of Cambodian trade annually and a stable financial development in circle of 7% per annum," Sun said.

The number of containers going through the port has increased from 16% in 2014 to 20% in 2016 respectively.

"It is estimated that by 2023, the number of containers will be over 700,000 TEUs (Twenty Equivalent Units) compared to today," Sun added.

Until today, Japan has provided $178.6 million for the development in Sihanoukville province.

Minister Sun Chanthol also asked  Japan  to help arrange a efficient systematic registration process for all ports.

Japan agreed and estimated that the establishment of system will cost approximately $800 million.

Both sides also discussed on the establishment of skytrain in Phnom Penh and a highway from Phnom Penh to Bavet.

There was also a discussion on first-phase would include the Chroy Chongva bridge rehabilitation project, national road 5's lane expansion, and cost reduction on the Cambodian transportation fee.
=FRESH NEWS