Giant Consolidated Limited has received 5 billion USD of financial
assistance from the New Zealand financial institute Rich Banco Berhad to
fulfill the construction of a 220km high-speed railway, connecting
Savannakhet province with Lao Bao Border Gate on Laos-Vietnam border.
The 5 billion USD Fund Syndication Agreement for the
Savannakhet-Laobao Railway Project was signed in Vientiane last
week, according to the Lao New Agency KPL.
The railway
project is designed to facilitate the transport in Laos and reduce
logistic cost for freight forwarding companies, Chairman of the Giant
Consolidated Limited Mohammad Fadzwi said, adding that it will help turn
landlocked Laos into a land-link country.
This railway is to create better opportunity for trade and goods transport system and reduce transport time, he said.
Savannakhet
is located on the East-West Corridor linking Thailand , Laos and
Vietnam . Main component of the corridor is the Lao-Thai Friendship
Bridge between Savannakhet and Moukdahan ( Thailand ) and Road No. 9
in Savannakhet.-VNA