Nation inks business deal with Chinese company
Nation inks business deal with Chinese company
The state enterprise for electrical installation is expected to increase its efficiency in electrical construction and installation services after an agreement was inked recently.
The Electrical Construction & Installation (ECI) Company reached a cooperative agreement with China Regent Holding Company Limited (Regent) after providing registered capital of US$2 million.
Under the cooperation agreement, they also launched the ECI Regent Company Limited (ECR) with a 51 percent share owned by ECI and a 49 percent of share owned by Regent.
Speaking at the ceremony, ECI’s Managing Director Mr Bountham Senphansiri said the company has considerable experience in business operation as it has gained confidence among Lao society over many decades.
“Today’s cooperation agreement of the two parties will help strengthen and consolidate electrical construction, installation and other services,” he said.
He noted that the long experience of the company will be proof of its operations and ensure the business profits both sides.
Chairman of China Regent Holding Company Limited Mr Allen Wu also said the launch of ECR will actively contribute to the development of the Lao power and energy sector in the years to come.
“Today we team up with ECI and also look forward to combining our Lao and international resources in fulfilling our agreed vision and mission pegged to the efficient execution of development power projects as well as the supply of power equipment and services,” he said.
During the announcement of ECR, the newly-launched company also inked cooperation agreements with its strategic alliance partners such as China Asean International Investment Group Limited (CAIG), China Datang Technologies & Engineering Company Limited (CDTE) of Datang Group and another three experienced companies.
A senior representative of ECR Mr Bounlath Khamvilaysouk signed the agreements with the company’s strategic alliance partners.
Deputy Minister of Energy and Mines Mr Khammany Inthirath along with other senior government officials and company personnel were present at the agreement ceremony.
vientiane times
