Cambodia Airport Investment company (CAIC), a joint venture (JV) between Overseas Cambodia Investment Corporation (OCIC) and State Secretariat of Civil Aviation, has signed a bond agreement of US$15 million with Hattha Bank for the Takhmao Techo international airport concession in Cambodia.

The concession involves the modernization of the airport located in the Kandal region with the aim to serve up to 50 million passengers by 2050. The estimated investment value of the project is US$1.5 billion. Construction works for the project are already underway and US$414 has already been invested.

The project will be carried out in three phases with the first phase expected to be finished in 2023.