Phnom Penh International Airport.
SINGAPORE—SIA Engineering Company (SIAEC) plans to open a joint venture (JV) company with Cambodia Airport Investment Co. (CAIC), providing line maintenance services at Phnom Penh’s new Techo International Airport.
The JV will see the Singapore-based MRO provider taking the majority 51% share; CAIC will take the remaining 49%. The company will commence operations in March 2025 when the airport is scheduled to open.
Once all three phases of the new airport’s construction are fully completed, Techo International Airport’s three runways are expected to handle up to 50 million passengers annually.
“We strongly believe that the transfer of technical competencies and aligned work practices with SIAEC are crucial for the long-term success of this joint venture, which will in turn create more high-value job opportunities for our local workforce,” CAIC Chairman Pung Kheav Se said.
SIAEC reported a S$66.4 million ($49.1 million) net profit for fiscal 2022/2023, down 1.2% year-on-year due to lower wage subsidies.
Related Content
