Vietnamese company FLC will join hands with Laos’ Petroleum Trading Lao Public Company to build a $5-billion railroad line between the two countries.
They signed a memorandum of understanding on the cooperation in the Laotian capital Vientiane Monday. The 555-kilometer line will connect Laos’ capital Vientiane with Vung Ang Port in the central coastal province of Quang Binh. Construction is expected to begin in the final quarter of this year.
FLC will be responsible for building the 103-kilometer section from the Cha Lo border to the seaport.
The section in Laos will be built by PetroTrade, the country’s leading fuel distributor.
The railroad is expected to enhance the port’s transshipment capacity and facilitate trade between Vietnam and its neighboring countries.
FLC also apprised the Laotian government about its interest in investing in major projects in the country, particularly in the tourism, aviation and mining.
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