Petroleum giant Caltex Cambodia will today in Sihanoukville inaugurate its $8 million oil terminal, the company’s single-largest investment in the nation.
Commerce Minister Cham Prasidh is expected to be on hand, according to Caltex General Manager John Raeside.
The marine terminal will be used to import and store oil from the company’s refineries in Singapore and Thailand. It has a capacity of 9 million liters of diesel, regular and premium grades of gasoline, according to a company statement.
US-based Caltex signed the 60-year lease in August 1996 for the 6-hectare lot, shortly after returning to Cambodia following a 20-year absence.
The terminal accounts for 40 percent of the company’s $20 million projected investment. The company has built more than 10 gas stations in Phnom Penh.
