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Chanthone Sitthixay (left), Chon Kyung-soon (center) and Park Jin-Hyun display the signed agreements in Vientiane.(Photo: Vientiane Times) |
Before construction, the Petroleum Trading Lao Public Company (PTL), Yooshin Engineering Corporation, and Korea National Railway will conduct a detailed design study for the railway.
A cooperation agreement on the project was signed in Vientiane last week by President of Petroleum Trading Lao Public (PTL) Company Chanthone Sitthixay, President of Yooshin Engineering Corporation Chon Kyung-soon, and Executive Director of Korea National Railway Park Jin-Hyun.
Upon completion, the Laos-Vietnam Railway will make contributions to the development of a modern and standardized transport infrastructure system, while reducing transport costs so as to promote Laos’ socio-economic development.
The project will strengthen Laos’ connectivity as a transport and trade hub within ASEAN and beyond. It is envisaged 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.
The high-speed electrified railway project will be built over a distance of some 500 kilometers, including some 312 kilometers linking Vientiane and Khammouane province’s Thakhek district, and a 139-kilometre route connecting Thakhek district with the Laos- Vietnam border. The total investment for the project is estimated at US$5.5 billion.
