Business

Vietnamese, Lao firms join hands in developing railway project

Vietnamese infrastructure developer Deo Ca Group JSC has signed a joint venture agreement with Laos’ Petroleum Trading Lao (Petro Trade) Public Company to develop a railway project linking the two countries.
Vietnamese, Lao firms join hands in developing railway project ảnh 1Ho Minh Hoang (L), chairman of Deo Ca Group JSC, speaks with Chanthone Sitthixay (R), chairman of the Petroleum Trading Lao Public Company on the project(Photo courtesy of Deo Ca group)
HCM City (VNA) – Vietnameseinfrastructure developer Deo Ca Group JSC has signed a joint venture agreementwith Laos’ Petroleum Trading Lao (Petro Trade) Public Company to develop a railwayproject linking the two countries.

The rail route spans 554.7 kilometers from Vung Ang Port inVietnam’s coastal province of Ha Tinh to Vientiane, the capital and largestcity of Laos.

The project will be built under the public-private partnership,with a total investment of 149.55 trillion VND ($6.3 billion).

As part of the deal, Deo Ca Group and Petro Trade will pour 27.48 trillion VNDinto constructing a 103-km section of the railway between Vung Ang Port and MuGia Pass in Quang Binh province. The section, which will have one terminal andseven stations, is designed for a top speed of 150 kilometers per hour.

Once put into operation, the project is expected to enhancefreight forwarding services between Vietnam and regional countries, notablyfrom Vung Ang Port to the economic centers in the north of Laos and thesouthern part of China./.
VNA
#Deo Ca Group JSC #Laos #Petroleum Trading Lao Public Company #railway project #Vietnam #Vietnamplus #Vietnam News Agency Laos Vietnam
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