Petroleum Trading Lao Public Company (PetroTrade) has signed an agreement with the National Consulting Group Sole Co Ltd to conduct an environmental and social impact assessment to ensure the Laos-Vietnam Railway Project is developed in compliance with international environmental and social standards.
The parties were represented by PetroTrade business development director Pariya Nuanthasing and National Consulting Group deputy chairwoman Xaiythany Chanthavongsa.
The agreement is meant to take forward the development of the Laos-Vietnam Railway Project, a statement said.
After signing a memorandum of understanding (MoU) for the detailed design of the project with the Lao government in October last year, PetroTrade cooperated with its partners such as the state enterprises of Indonesian Railway Development Consortium and Transportation Engineering Design Incorporation Vietnam in order to further design and complete the works assigned by the Lao government.
The Laos-Vietnam Railway Project is a strategic logistic development project between the Lao government and Vietnam that both countries have accorded priority to for development.
The project will help the socio-economic development of both countries by logistically and commercially linking Thakhaek in Khammuan province of Laos to Vung Ang Port in Ha Tinh province of Vietnam.
This is in accordance with the Lao national development strategy to transform the country from a landlocked to a land-linked country, in order to resolve the obstacles to Laos’ national development such as the high cost of logistics, transportation and lack of infrastructure.
The Laos-Vietnam Railway is an integral part of the Lao Logistics Link strategy that includes the development of railways, highways and dry ports and optimising the use of Vung Ang Port, which is the closest point of access to sea transportation for Laos.
The Laos-Vietnam Railway Project from Thakhaek to Vung Ang Port is a single track railway line with an approximate length of 240km and it is expected to begin its construction by the end of next year. The expected commencement operation date is 2025.
PetroTrade is an industry leading company that is publicly listed on the Lao Securities Exchange and has been given the honour of jointly developing strategic projects such as the Laos-Vietnam Railway, Vung Ang Port and Vientiane Logistics Park (Dry Port) with the Lao government.
The company was founded in April 2008 with the vision of delivering quality oil at a fair price to all areas for better quality of life. PetroTrade has since diversified its business to include investments into national energy, logistics and infrastructure projects that will contribute and add more value to the socio-economic development of Laos.
The National Consulting Group is a reputable environmental consultation company that has many years of experience in conducting studies on environmental and social impact for various national projects, including the Laos-China Railway project.
VIENTIANE TIMES/ASIA NEWS NETWORK
