Overseas Cambodia Investment Corporation (OCIC) has selected a consortium led by Lagardère Travel Retail and HSC Group as preferred bidder to manage duty free services at Techo Takhmao International Airport, which is scheduled to open in 2025.
The airport – developed by Cambodia Airport Investment Company (CAIC), and a joint venture between OCIC Group and State Secretariat of Civil Aviation (SSCA) – is currently under construction in Kandal province, Cambodia. It has been designed by British architecture firm Foster + Partners.
The proposed duty free partnership with Lagardère Travel Retail was announced at the Mouvement des entreprises de France (MEDEF) Europe – Cambodia Business Forum in Paris on 15 January. A signing ceremony took place in the presence of Cambodia Prime Minister Samdech Moha Borvor Thipadei Dr. Hun Manet, who is on an official visit to France this week.
Also in attendance were CAIC and OCIC group vice chairwoman Dr. Lim Lina; Lagardère Travel Retail CEO Dag Rasmussen; Lagardère Travel Retail Asia COO and global chief strategy and development officer Séverine Lanthier and HSC Group chairman and CEO Lok Sok Hong.
The selection of the Lagardère Travel Retail and HSC Group consortium as preferred bidder marks the start of exclusive negotiations, set to kick off in the coming weeks, said OCIC.
“Lagardère Travel Retail is committed to make travel more enjoyable,” said Lanthier. “We are looking forward to keeping on enhancing Cambodian, South Asian and international travellers’ airport experience by investing our global know-how and local expertise at Techo International Airport.”
CAIC Director Charles Vann remarked: “Through our collaboration with Lagardère Travel Retail and HSC Group as our duty free concessionaires, we anticipate significant added value for frequent flyers travelling to and from Phnom Penh.
“We are confident that these initiatives will foster the growth of Phnom Penh’s tourism sector and contribute to the creation of employment opportunities for the local community in the immediate future.”
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An investment of USD1.5 billion is being made in the first phase of the airport’s construction.
OCIC group vice president Thierry Tea noted: “The selection of Lagardère Travel Retail and HSC Group for the management of duty free at Techo International Airport will make it possible to introduce new innovations in customer experience for future passengers – be it our fellow citizens or those visiting Cambodia.
“The expertise and international network from which travellers will benefit would position Cambodia as a key player on Asia’s regional scene.”
*OCIC is a leading Cambodian conglomerate with interests in property development, real estate, education, healthcare, airport, construction & engineering, retail, hospitality, media and leisure.
(Source: The Moodie Davitt Report )