PPAP signs land leasing agreement with Chinese firm

PPAP signed a land leasing agreement with Yunnan Sengmao Investment on Friday last week, allowing the Chinese firm to build a construction supply center on its 9.3 hectares of land in Russey Keo district. According to Hei Bavy, director-general of the port operator, the deal will last for 40 years from 2016 to 2056 and will provide a new source of revenue for the CSX-listed company in addition to the port services it provides. He said the Chinese firm would spend roughly $60mn to build a construction supply center that would serve as the go-to location for customers who want well-known and high-quality construction products. The center will have about 500 to 700 booths selling all kinds of imported construction products, and will have at least 20,000 TEUs using PPAP per year, he added. (Source: Khmer Times)