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BREAKING NEWS: Funan Techo Canal Project Has 51% Stake in Cambodian Investors

Kampot, June 6, 2024 – Prime Minister Hun Manet has announced that the Funan Techo Canal Project, Cambodia's largest canal initiative, will feature a 51% stake held by Cambodian investors.

Speaking at the inauguration ceremony of the multi-purpose port in Kampot province, the Prime Minister revealed that the project would involve two state-owned companies, Phnom Penh Autonomous Port and Sihanoukville Port, as major shareholders.

"Please continue to believe that this project is not in the interest of any country, but in the interest of the Cambodian nation and the Cambodian people, from now to the future. This project is not for just five years but for hundreds of years to come," said Prime Minister Hun Manet.

He also confirmed that construction of the canal would begin on August 5, 2024. The Funan Techo Canal Project, a significant infrastructure endeavor, will connect directly to the Cambodian. It aims to provide substantial benefits to Cambodia, particularly in transportation, real estate, and other investments. The project is expected to cost $1.7 billion and take four years to complete.

Prime Minister Hun Manet issued a stern warning to land brokers, collectors, and encroachers on state land, as well as certain civil society organizations aiming to undermine the project. A study found that over 1,000 families would be affected by the canal, and reports indicate that some opportunists have been buying land from residents, potentially impeding the project's progress.

"There should be no obstruction to the project. This is a national interest, the Funan Techo Canal project is crucial for our country's future and must be completed. A small amount of obstacles are indestructible for this project," the Prime Minister emphasized.

The project is expected to bring numerous benefits to Cambodia, ensuring long-term national interest and development.

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