Khammuan to build steel factory in economic zone
Khammuan to build steel factory in economic zone
A ground-breaking ceremony to construct a Khammuan steel making factory recently took place in Khammuan province.
The new construction project is located in the Khammuan Specific Economic Zone near the 3rd Lao-Thai Friendship Bridge that links Khammuan province in Laos and Nakon Phanom province in Thailand.
A total area of 1,035 hectares will be used for the construction of the factory which will be able to produce about 500,000 tonnes of steel per day.
Deputy Governor of Khammuan province, Mr Oday Soudaphone, Vice Chairman of Thakhaek Specific Economic Zone Boards Management, Mr Kongvaly Phetsakhone and President of SDS Group Company Limited Mr Bounpheng Simoukda attended the event. SDS Group Company Limited plans to invest around US$30 million with 75 years of concession period, aiming to produce a variety of steel products to supply the demands of domestic consumption and export to other countries.
According to the local authority, the construction of the factory is one of the province's priorities to promote investment in the specific economic zone. It is also set to help develop the use of land at the specific economic zone where it is close to the Lao-Thai Friendship Bridge.
Meanwhile the company also plans to develop infrastructure in the projected area where it will be able to boost sustainable development and be environmentally friendly.
Construction of the factory began informally in 2014 and is slated for completion at the end of this year.
