Laos - Laos signs a USD 5-billion railway project with Malaysian firm

(KPL) The government of Laos yesterday signed an agreement on a USD 5 billion railway project in central province Savannakhet with a Malaysian firm Giant Consolidated Limited here in Vientiane.

The signing ceremony of the master concession agreement on railway construction and development between Savannakhet province to Lao Bao (Lao-Vietnam border), was signed at the National Convention Centre just few hours before the opening of Laos’s historic international event Asia-Europe Meeting Summit (ASEM 9).

Signatories to the agreement were Minister of Planning and Investment, Mr Somdy Douangdy, Deputy Minister of the Public Works and Transport, Mr Lathtamany Khounivong, Governor of Savannakhet province, Mr Souphanh Keomyxay, and President of the Giant Consolidated Limited, Mr Mohamad Fadzwi Bin Hamidun, and Mr Tock Min Kin and Mr Aixinjueluo Yuhao, both are directors of the company.

The signing ceremony was witnessed by Prime Minister Thongsing Thammavong and Prime Minister of Malaysia Dato Seri Mohd Najib Tun Abdu Razak. The multibillion US dollar project is the construction of a railway of 220 km and its construction is expected to last five years.

Source: KPL Lao News Agency

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