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 Company, Chanthone Sitthixay, the President of Yooshin Engineering Corporation, Chon Kyung-soon, and the Executive Director of Korea National Railway, Park Jin-Hyun.
“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.” “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.”
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.