Cambodia's 2 largest ports see remarkable rise in revenue last year

Source: Xinhua| 2020-01-08 19:23:01|Editor: xuxin
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PHNOM PENH, Jan. 8 (Xinhua) -- Cambodia's two state-owned ports, Sihanoukville Autonomous Port (PAS) and Phnom Penh Autonomous Port (PPAP), had seen remarkable growth in revenue in 2019, according to the annual report of the Ministry of Public Works and Transport on Wednesday.

PAS, the kingdom's largest seaport, made gross revenue of 79.3 million U.S. dollars last year, up 17.5 percent compared to the year before, said the report released at the ministry's annual conference.

It said the port's net profit was almost 13 million dollars last year, up 16 percent year-on-year.

The listed seaport handled 633,099 twenty-foot-equivalent units, or TEUs (standard-sized containers), last year, up 17 percent compared to a year earlier, the report said, adding that containerized cargo tonnage rose 22 percent to 6.5 million tons.

Meanwhile, the listed PPAP, the country's second largest container hub, recorded total revenue of 29.6 million dollars in 2019, up 35 percent compared to 2018, the report said, adding that the port's net profit was about 10 million dollars last year, up 30 percent year-on-year.

The freshwater port received 275,000 TEUs last year, up 29 percent year-on-year, it said. Containerized cargo tonnage increased 22 percent to 3.8 million tons.

Minister of Public Works and Transport Sun Chanthol attributed the remarkable surge in the ports' revenue to the country's good economic performance.

"For the Sihanoukville Autonomous Port, we will build a new container terminal with a depth of 14.5 meters next year in order to accommodate large ship travelling in the Asia-Pacific region," he said at the ministry's annual conference.

Work on the new container terminal will be commenced in 2021 and is expected to be completed in 2024, he said, adding that it is estimated to cost roughly 200 million dollars.