Companies ink deal for supply of cement for Tanmixay road
Companies ink deal for supply of cement for Tanmixay road
The Langxang Cement Lao Co., Ltd. under the Yunnan provincial Energy Investment Group Co., Ltd. (YEIG) has agreed to supply cement to the Tang Chareon (TCR) Group Co., Ltd. to build a 9.37km highway in central Vientiane.
The road runs from the Tanmixay crossroads in Xaythany district to the Sikeuth junction with Road No. 13 North in Naxaithong district and is now 15-16 percent complete.
The cooperation agreement was signed on Tuesday by Tangchaleun Group Co., Ltd. President Mr Houa Seng-Aloun and Langxang Cement Lao Co., Ltd. President Mr Yan Yong.
Also present were Vientiane Vice Mayor Mr Sihoun Siththileuxay, officials from the ministries of Planning and Investment and Public Works and Transport, and representatives of both signing parties.
Vice President of the Tangchaleun Group Co., Ltd., Mr Khamtay Keodouangdy, said the project was going to plan after work began at the end of last year.
Concrete will be laid soon now that landfill has been completed, he said.
The two-year project is set for completion by the end of 2018 at a total cost of US$45 million.
The concrete is being supplied by the Langxang Cement Lao Co., Ltd. to ensure the project progresses to plan and has a successful outcome.
The Langxang Cement Lao Co., Ltd. is a major supplier of cement in Laos and has provided cement for the construction of hydropower projects, hotels, government buildings and roads.
Tangchaleun Group Co., Ltd. is another major Lao company and owns import-export operations, hotels and an electricity installation business.
The road currently under construction is 28 metres wide and has six lanes, a median strip, sidewalks and drainage. Traffic lights are also being installed.
The project is part of Vientiane's infrastructure improvement plans, with the aim of spurring socio-economic development and improving conditions for local residents and traders.
The new road will ease congestion in the city centre as it will provide another option for vehicles and heavy trucks travelling between the northern and southern provinces or transporting goods from other countries.
It anticipates future expansion of the city and will carry traffic travelling between Road No. 13 North, 450 Road and Kaysone Phomvihane Road.
The government will repay Tangchaleun Group Co., Ltd. for the cost of the project over a period of seven years with annual interest set at 3.5 percent.
