March 04, 2023 | 20:26 (GMT+7)
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.
The rail route spans 554.7 kilometers from Vung Ang Port in Vietnam’s coastal province of Ha Tinh to Vientiane, the capital and largest city of Laos.
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Ho 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 |
The project will be built under the public-private partnership, with a total investment of VND 149.55 trillion (USD 6.3 billion).
As part of the deal, Deo Ca Group and Petro Trade will pour VND 27.48 trillion into constructing a 103-km section of the railway between Vung Ang Port and Mu Gia Pass in Quang Binh province. The section, which will have one terminal and seven stations, is designed for a top speed of 150 kilometers per hour.
Once put into operation, the project is expected to enhance freight forwarding services between Vietnam and regional countries, notably from Vung Ang Port to the economic centers in the north of Laos and the southern part of China.
Source: VNA