A new blueprint for the long-delayed Snake Island (Koh Pos) resort development off the coast of Sihanoukville will soon be completed, and investment of up to $1 billion is hoped to kick-start the project, which has a planned completion date of 2018, according to the developer. In 2006, the Cambodian government sign
A new blueprint for the long-delayed Snake Island (Koh Pos) resort development off the coast of Sihanoukville will soon be completed, and investment of up to $1 billion is hoped to kick-start the project, which has a planned completion date of 2018, according to the developer.
In 2006, the Cambodian government signed a 99-year lease for the land on Koh Pos – also known as Morakot Island – to Russian Koh Pous Investment Group (KPIG).
The company had already invested $100 million on a 1-kilometre bridge to the island, as well as other infrastructure, including an unfinished 5-kilometre road circling the island.
According to Kheam Kolneath, public relations manager of KPIG, the blueprint is not yet complete, with the group director seeking changes to some aspects of the design from Interstate before an official launch and a proposal aimed at gaining permission to initiate the new project from the Council for the Development of Cambodia.
KPIG's director has said that the new plan will increase the project budget from $276 million to $1 billion.
“I think the blueprint will be finished by the middle of this year because the director wants to push project ahead after it was put on hold following the 2008 financial crisis,” Kolneath said.
“The project originally had a planned completion date of 2016, but it has now been delayed to 2018.”
The project comprises two 4-star hotels, one 5-star hotel, one “6-star” hotel, a casino, bungalows, villas for private residents, and further infrastructure to serve the resort, he said.