Gov’t Retains Development Contracts

Although there is little hope that Malaysia’s Ariston or YTL corporations will continue proposed development projects in Cambodia, the government has not yet decided to cancel the contracts, Industry Minister Pou Sothirak said Monday.

Both companies signed agreements proposing Build-Operate-Transfer power projects as part of tourism developments—Aris­ton in Sihanoukville and YTL in Siem Reap. Pou Sothirak blamed the delays on both the factional fighting in July and the economic crisis in Malaysia.

Although the YTL project had zoning problems near the temples where it wanted to build a luxury hotel and produce a light show at Angkor Wat, Pou Sothi­­rak attributed delays in the Ariston project solely to Ariston. The company had planned a golf course, luxury resorts, a power plant and an airport.

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