SUM MANET
The French Development Agency (AFD) will provide Cambodia with a loan of 30 million euros (about $31.35 million) to expand a Chamkarmon district water plant’s production capacity and water supply system throughout Phnom Penh, according to the Ministry of Economy and Finance.
The loan agreement was signed on Monday at the Finance Ministry.
Vongsey Visoth, a secretary of state at the ministry, said that through this project, the Phnom Penh Water Supply Authority (PPWSA) would increase water production capacity by supplying 52,000 cubic meters per day, a dramatic increase on the 14,000 cubic meters it now produces.
“To achieve it, PPWSA has to change the old water pumping pipe from Tek La Ork, the treatment plant since 1996, and expand the water supply system on the outskirts of Phnom Penh,” Mr. Visoth said.
“The credit is in line with the policy of the Royal Government of Cambodia on the use of resources borrowed from development partners for investment in four prioritized areas including roads, water, electricity and human resources.
“The Cambodian government hopes that the Government of the Republic of France, through AFD, will continue its policy of providing loans,” he added.
Revenue of the Cambodia Securities Exchange-listed PPWSA fell by 5.37 percent in the first nine months of 2016, compared with the same period last year, according to the company’s recently released interim consolidated financial statement.
It said that PPWSA’s total revenue until September was just $37.7 million compared with $41.7 million over the same period last year.
At the same time, its net profit dropped by 23.1 percent to $7.56 million from $9.83 million the year before.
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