PHNOM PENH, Feb. 5 (Xinhua) -- Three BOT (build, operate and transfer) agreements were signed here on Wednesday for a Chinese company to build and develop the Kirirom III Hydro-electric Station in Kaoh Kong to meet the power demand from Kaoh Kong, Kampong Speu and Phnom Penh.
Zhao Shouhe, president of the China State Grid Xin Yuan International Investment Co. LTD., and vice president Wang Hong inked the agreements with Cambodian Minister of Economics and Finance Keat Chhun, Cambodian Minister of Mines and Energy Suy Semand other government officials.
Charged Affaires of the Chinese Embassy in Cambodia Duan Jinzhu and Economic and Commercial Counselor Sun Weiren also joined the ceremony.
A press release from the Cambodian side said that the project won approval from both governments after more than two years of field research and expert study.
It will enjoy benefits in dual sectors of society and economy, satisfying the Cambodia's power need on condition of safety and high efficiency and generating incomes and taxes for both governments, it added.
The project is located in Koh Kong province in southwest Cambodia, 159 km away from Phnom Penh, the capital of Cambodia, and 120 km away from Sihanoukville, the major port city of Cambodia.
The 47-million-dollar power plant will have an installed capacity of 18 megawatts. The plant will be finished in three years and have 30 years of granted on cession.