Urai Phanich opens third paint factory in Savannakhet
Urai Phanich opens third paint factory in Savannakhet
Urai Phanich (Laos) Co., Ltd.’s new paint factory in Savan Seno Special Economic Zone (Savan Seno SEZ) in Savannakhet province is now open and producing paint for domestic sales and export purposes.
An opening ceremony for the new paint factory officially took place last week in Savan Seno SEZ, and was attended by provincial Governor Dr Souphan Keomixay, President of Urai Phanich (Laos) Co., Ltd. Mr Thongma Permsubhiran, and relevant officials from both Thailand and Laos.
The factory, which was one year in construction, will become the company’s third paint factory, after its first was established in the capital Vientiane and the second in Champassak province, southern Laos.
Urai Phanich decided to build another factory in Savan Seno SEZ because the company has seen an increase of sales year-on-year and is confident its business prospects in central Laos are good.
In particular, the company’s sales of paint products from Vientiane saw an increase of 15 percent, while Champassak saw an increase of 20 percent in the first quarter of this year compared to the same period last year, according to a senior official from the company.
“Our sales have increased due to high demand on the domestic market as many buildings are being built in Laos,” Mr Thongma said.
Currently, the company sells its paint products (U-90) on the domestic market only but plans to export its products to Vietnam and Thailand in the next few years after the inception of the Asean Economic Community in 2015.
Urai Phanich (Laos) Co., Ltd has invested over 15 billion kip (about US$1.9 million) for the construction of the new paint factory, with registered capital of US$1.6 million.
The factory is being built on 19,972 square metres of land, with the group of three buildings comprising a production house, warehouse and administration office.
The third factory will have the capacity to produce about 10,000 tonnes of paints per year and will create jobs for more than 100 people.
The first factory in Vientiane now has a production capacity of 15,000 tonnes per year and creates jobs for more than 100 people, while the second one in Champasak has around a 10,000 tonnes capacity and also creates jobs for 60 people.
Provincial Governor Dr Souphan Keomixay observed that this paint factory will significantly contribute to socio-economic development in Savannakhet as well as the national economy.
In addition, it will help to boost GDP growth and create jobs for local people as well, Dr Souphan said.
vientiane times
