The Chinese government has provided $259 million as a concessional loan to Cambodia for the construction of the third ring road for the Phnom Penh.
The Finance Ministry stated that they signed the necessary agreement with China last week.
The new ring road will be four-lane, 47.6 kilometres long, 25 metres wide, and built by the Shanghai Construction Group. The project is an achievement of the Comprehensive Strategy Partnership of both countries.
The ministry said that it will connect with National Roads 1, 2, 3, 5, 21 and Phnom Penh Port. It will play an important role in reducing traffic congestion and be a boon for industrial growth.
The Ring Road 2 is presently under construction.