The Bounthavysup Road and Irrigation Construction Company has been granted a right to a 70-year concessional project to turn the natural tourist site Nua waterfall into a more attractive destination in Viengxay district, Huaphan Province.
According to an MoU the company signed with the provincial authorities, the company will inject 47.2 billion kip (UD$ 5.7 million) into the development project.
The project development area covers over 180 ha of Vanghai, Nathane and Hanglong villages in Viengxay district, Houaphanh province.
Nua waterfall is located in Viengxay district, Huaphan province. It is a large two-tier waterfall.
The MoU was signed at the Department of Planning and Investment of Huaphanh Province by its deputy director Mr Mayleuay Phimmasone, Director of the Provincial Information, Culture and Tourism Department, Mr Khamsing Latdavong, Deputy Viengxay District Chief, Mr Buavanh Bounmyxay and Director of Bounthavysup Bridge and Irrigation Construction Company, Mr Thanthy Thoummavanh.
The signing event was witnessed by representatives of local authorities.
Bounthavysup is the second private company to have been granted right from the provincial authorities to develop tourist site in the northern province after Airkong Private Company was authorized to develop Tad Saleuay waterfallt site with an investment of 3 billion kip last month.
Source: Lao News Agency