Joint venture agreement signed for USD1.5 billion Airport PPP Project in Cambodia
SIA Engineering Company has announced that it will form a joint venture (JV) with Cambodia Airport Investment Company (CAIC) for aircraft line maintenance services at a new airport in Phnom Penh known as Techo Takhmao International Airport in Kandal Steung, Cambodia.
After the creation of the JV, SIA Engineering will hold a 51 % stake in the joint venture, while the CAIC will hold 49 %. JV plans to start operations in 2025. SIA Engineering is a provider of aircraft maintenance, repair and overhaul services. The scope of the project involves the development of a 2,600-ha airport which will include three runways and a satellite terminal. The current Phnom Penh International Airport is about 400 ha and is located 18 km from the new airport site.
SIAEC chief Ng Chin Hwee says: “This joint venture, in partnership with CAIC, will provide comprehensive line maintenance support with a high level of despatch reliability and quality engineering services to the airlines operating in Techno Takhmao airport.”
The construction of the US$1.5 billion greenfield airport began in 2019 and is still under development. It airport has the capacity to serve up to 50 million passengers a year.
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