City Hall Not Told of Twin Towers Deal
Posted On : January, 3, 2017 | By Chamroeun Soy

Source: Khmer Times

Phnom Penh city officials have been kept in the dark over the billion-dollar twin tower project, initiated by local real-estate company Thai Boon Roong (TBR) Group, after it was reported last week that the company signed a contract with two Chinese companies.

According to China’s state-run Xinhua news agency, TBR signed a $2.7 billion contract with the Wuhan-based Wuchang Shipbuilding Industry Group and Macao-based Sun Kian Ip Holding on Saturday to build the TBR Twin Tower World Trade Center, which is intended to be the tallest building in Southeast Asia.

However City Hall vice-governor and spokesperson Mean Chanyada told Khmer Times that since the launch of the project early last year, the municipality has not received any updates or information from the company.

“I have not received any new information so far. The company has not informed us of any update,” he said.

“Actually, after they submitted the construction proposal to us, we already approved the construction. But, for the timeframe of the construction, we don’t know yet because they need to prepare their internal work with their business partners,” he added.

The 560-meter, 133-floor twin commercial towers is to be built opposite the NagaWorld casino on a five hectare plot of land along the Mekong River.

Based on the contract, Wuchang Shipbuilding Industry Group will undertake the construction of the skyscrapers along with Sino Great Wall Engineering Xinhua reported.  It is understood that Sino Great Wall is a joint venture company with TBR.

Yang Zhigang, chairman of the Wuchang Shipbuilding Industry Group, told Xinhua that “the company has aimed to undertake infrastructure, shipbuilding and port construction cooperation with countries joining China’s Belt and Road initiative.”

However, Reuters reported on Thursday that Sino Great Wall International will be leading a consortium along with Wuchang Shipbuilding Industry Group after a deal was struck the same day, but there was no mention of Sun Kian Ip Holding.

Quoting sources at Sino Great Wall International, Reuters also said that construction is expected to be completed in five years.

Local media also quoted Phnom Penh municipal governor Pa Socheatvong as saying on Friday that the Ministry of Land Management was reviewing plans for the project as the land, which was close to the Mekong riverside, needed “recorrecting” to ensure its safety.

You can find the original source here.

Photo by Khmer Times

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