Chanthone Sitthixay (left), Chon Kyung-soon (centre) and Park Jin-Hyun display the signed agreements in Vientiane. - VT
VIENTIANE (Vientiane Times/Asia News Network): The Laos-Vietnam Railway is expected to be completed and open for service in 2028. The Petroleum Trading Lao Public Company (PTL) in cooperation with Yooshin Engineering Corporation & Korea National Railway will conduct a detailed design study of the railway before construction begins.
A cooperation agreement on the project was signed in Vientiane last week by the President of Petroleum Trading Lao Public (PTL) Company, Chanthone Sitthixay, the President of Yooshin Engineering Corporation, Chon Kyung-soon, and the Executive Director of Korea National Railway, Park Jin-Hyun.
The signing ceremony was attended by the President of the Executive Board of Strategy and Planning at PTL Holding Company Limited, Alounkeo Kittikhoun, senior government officials from the ministries of Planning and Investment, Natural Resources and Environment, and Public Works and Transport, and other relevant government bodies and company representatives.
The Laos-Vietnam Railway will be built over a distance of 250 kilometres and will cost US$2 billion to construct, Chanthone said.
“Our company has been granted the right to be the developer. We have made every effort to fulfil our obligations under the project and have already achieved key milestones such as the completion and approval of the economic and technical feasibility study and the environmental impact study.”
“The signing of the Concession Agreement and the detailed design study will pave the way for the construction phase in the future,” he added.
“Yooshin Engineering Corporation & Korea National Railway of the Republic of Korea have proven their high level of competency and great experience internationally with regard to their outstanding expertise in engineering, design, construction, technology and the management of railway projects globally and with great efficiency for over 60 years.”
“For this reason, I would like to express my deep appreciation of this step forward in cooperation through the detailed design study at this time and the further dedication of our company to this project.”
“I have full confidence that under the guidance and support of the Party and Lao government, the Laos-Vietnam Railway will be built as planned and that targets will be achieved,” Chanthone said.
When built and put into service, the Laos-Vietnam Railway will contribute to the development of a modern and standardised transport infrastructure system.
In addition, it will reduce the cost of transport in order to enhance the socio-economic development of Laos and will be a reliable source of revenue for the government’s budget over the long term.
The railway will strengthen Laos’ connectivity as a transport and trade hub within Asean and beyond, all of which will bring great benefits to the people of Laos and the country will become more and more prosperous in a sustainable way.
The overall aim of the project is to support the Lao government’s vision and the country’s development strategy of transforming Laos from a landlocked country into a land-linked country.
The Laos-Vietnam Railway is a part of the Laos Logistics Link Project, which includes a number of sub-projects such as the Thanaleng Dry Port and Vientiane Logistics Park, the Laos-Vietnam Railway, Vung Ang Seaport, and the Boualapha Coal Fired Power Plant.
