PHNOM PENH: To support the construction of Takhmao Techo International Airport, in Kandal province, the Cambodia Post Bank (CP Bank) has invested $10 million in Cambodia Airport Investment Co. (CAIC)’s guaranteed bond.

The Signing Ceremony was held on Tuesday between Deputy Director General of CAIC Charles Vann and CEO of CP Bank Toch Chaochek, in the presence of Chairman of the Board of Directors of the Overseas Cambodian Investment Corporation (OCIC), Neak Oknha Pung Kheav Se.

Along with CP Bank, Prince Bank, Foreign Trade Bank of Cambodia (FTB) and ABA Bank has also invested in guaranteed bonds issued by CAIC, which has an interest rate of 5.5% per annum with a term of three years guaranteed by the OCIC.

With 28% of construction achieved, the Takhmao Techo International Airport project costs around $375 million, excluding the land cost already invested by the Cambodia Airport Investment Co. (CAIC).

CAIC is a joint venture between the Royal Government of Cambodia represented by the State Secretariat of Civil Aviation as well as the OCIC.