With construction of the 180km Funan Techo Canal project set to begin later this year or early next year, the government has decided to freeze land sales along the length of the canal, in order to avoid property speculation.
The position was announced by Deputy Prime Minister Sun Chanthol, first vice-president of the Council for the Development of Cambodia (CDC) during a May 3 meeting with journalists. He called on the residents of the proposed canal’s path to cooperate and ensure that the historic project is a success.
“We need to make the Funan Techo Canal project successful! Please join with the government and do not try to buy land there. If a square meter of land is normally sold for a dollar, do not sell it for $10. Cambodian brothers and sisters, please, support the government and join it in assuring the construction goes smoothly. Think about more than making a profit, think about the national pride the canal will bring us,” he said.
According to Chanthol, the trajectory of the canal will not affect many people’s homes, as it follows the path of the original canal, which was abandoned during the Funan Empire period of 100BC to 550AD. He added that the land is mostly rice fields.
He explained that the cost of compensation will be mostly borne by a private company, with the government meeting a small part of the cost.
It will be calculated in a similar way to the Phnom Penh-Bavet Expressway, where the investing company covered 80 per cent of the compensation payments, and the government subsidised the remaining 20 per cent.
Aside from its role as a major part of the Kingdom’s infrastructure, he added that the canal would be home to new fisheries stocks.
“The company has no right to ban Cambodians from fishing on the 180km canal,” he said.
“According to the estimates of the Ministry of Agriculture, Forestry and Fisheries, at least 140 tonnes of fish will be caught in the canal per year. Senate president Hun Sen has said that it may be even more than that, as we intend to stock the whole length of the canal, which will be 5.4 metres deep and 100 metres wide, with all kinds of fish,” he added.
Fishing would also be free of charge to all Cambodians, he explained, noting that the matter was raised and made very clear during negotiations with the Chinese company.
The canal project is expected to cost $1.7 billion and take four years to complete. The project is government-private partnership between a Chinese company and the government.