Malaysia to build pre-stressed concrete poles in Laos
Malaysia to build pre-stressed concrete poles in Laos
Jidnapha Construction Company Limited and Zenn HRB Sdn Bhd, a Malaysian based manufacturing company, signed an agreement on Wednesday to pave the way for a joint venture company to manufacture pre-stressed spun concrete poles in Vientiane.
A Memorandum of Understanding was signed by General Director and Chief Executive Officer of Jidnapha Construction Company Limited, Ms Phengmany Vorarath, and Executive Chairman of Zenn HRB Sdn Bhd, Mr Hang Tuah Din.
Deputy Minister of Planning and Investment, Dr Bounthavy Sisouphanthong, Deputy Minister of Energy and Mines, Mr Khammany Inthilath, Malaysian Ambassador to Laos, Mr Dato Than Tai Hing, Lao Ambassador to Malaysia, Mr Khamphan Anlavanh and other invited officials were present at the ceremony.
Speaking at the event, Ambassador Than Tai Hing said he was delighted to witness the signing of an MOU between the two companies and hoped it would pave the way for the establishment of a joint venture company to manufacture pre-stressed spun poles in Vientiane.
“Laos is one of the fast growing economies in the region; its GDP has grown by more than 8 percent over the past few years and it has attracted great numbers of investors from around the globe.”
He said Malaysia is currently ranked as the sixth largest foreign investor in Laos with an investment value of about US$430 million.
Malaysian investments include finance and banking, insurance, hydropower, mining, manufacturing, construction and property development, agriculture and forestry, tourism, hospitality and the service industry.
Meanwhile, Ms Phengmany thanked Ambassador Dato Than Tai Hing and Ambassador Khamphan for their supportive efforts to bring the two companies together to sign a cooperative agreement.
“Construction of a joint venture company to produce pre-stressed spun poles will contribute to socio-economic development in Laos because the country is working on infrastructure development, especially the railway project and the expansion of the electricity system,” she said.
A senior company official told reporters that work on the joint venture company will begin later this year but the cost of construction is yet to be declared.
vientiane times
