Vietnamese carmaker VinFast to expand dealership network to Laos

Phongsubthavy Group of Laos would be an exclusive distributor of Vietnamese carmaker VinFast under a memorandum of understanding signed on June 28.

Secretary General of the Communist Party of Vietnam (CPV) Central Committee Nguyen Phu Trong and Secretary General of the Lao People’s Revolutionary Party (LPRP) Central Committee and President of Laos Thongloun Sisoulith witnessed the signing of the document in Hanoi during Thongloun’s two-day visit to Vietnam.

Phongsubthavy wanted to establish a system of VinFast dealerships in Laos to diversify car supplies in the country.

VinFast committed that Phongsubthavy will become its priority partner in Laos if the group satisfies conditions and standards regarding finance, personnel, sales and investment prospects.

Phongsavath Senaphuan, Chairman of Phongsubthavy, said his group has chosen VinFast because of its incredible growth over the past time, adding VinFast has created the first Vietnamese car brand in the international market.

Hoang Chi Trung, General Director of VinFast, expressed his hope that through the cooperation with Phongsubthavy, more people will possess and experience Vietnamese cars.

As one of the leading groups in Laos, Phongsubthavy is operating in construction, real estate, energy and trade. It has also cooperated with Vietnam Electricity (EVN) to export electricity to Vietnam

Source: Lao News Agency

Main structure of longest bridge along China-Laos Railway completed

The China Railway No. 5 Engineering Group (CREC-5) has completed the construction of the main structure of the longest bridge along the China-Laos Railway, the Phonethong super major bridge.

The Chinese engineering company, the CREC-5, told Xinhua on Wednesday that with the last pier cemented on Monday, the main structure of the Phonethong super major bridge, the longest China-Laos Railway bridge with a length of 7,528.56 meters and 231 piers, was completed.

The construction of the Phonethong bridge was kicked off in last July in Vientiane, the southern end of the China-Laos Railway.

The CREC-5 engineering team has overcome a series of difficulties including the lengthy rainy season, complex geological conditions and the impact of the COVID-19 epidemic, to advance the bridge’s construction.

The China-Laos Railway’s construction has been confronted with huge challenges and difficulties in the epidemic, but the work progressing in an orderly and balanced manner has strengthened the confidence in the timely completion of the railway by this December, Bounthong Chitmany, Vice President of Laos said, when talking to Xiao Qianwen, general manager of the Laos-China Railway Co., Ltd., which is responsible for the construction and operation of the railways.

The China-Laos Railway is a docking project between the China-proposed Belt and Road Initiative and Laos’ strategy to convert itself from a landlocked country to a land-linked hub.

The over-400-km railway will run from Boten border gate in northern Laos bordering China, to Vientiane with an operating speed of 160 km per hour.

The electrified passenger and cargo railway is built with the full application of the Chinese management and technical standards. The construction of the project started in December 2016 and is scheduled to be completed and open to traffic in December 2021.

Source: Lao News Agency

Mitsubishi to invest in 600-MW wind project in Southern Laos

Japan’s Mitsubishi Corp (TYO:8058) will invest in a 600-MW onshore wind farm project in Laos that will supply electricity to Vietnam, Renewables Now – an independent one-stop shop for business news and market intelligence for the global renewable energy industry – reported on Jun 16.

The company said today it has reached an agreement to invest in the project’s developer, Impact Energy Asia Development Ltd, through an intermediate holding company together with a group company of Impact Electrons Siam Co Ltd of Thailand.

Mitsubishi is acting through its wholly-owned Hong Kong subsidiary Diamond Generating Asia Ltd. Further details about the investment were not provided.

To be located in Xekong and Attapeu provinces in southern Laos, the wind farm will be the first in the country and the largest in South East Asia. It is planned to sell electricity to Vietnam’s state-owned Vietnam Electricity over 25 years by means of a dedicated power transmission line.

Vietnam needs additional power supply to support its economy, especially in the dry season, when the country’s hydro power generation is limited. The project is therefore expected to both help stabilise Vietnam’s power system and make its energy mix greener, Mitsubishi explained.

The wind farm development is in line with a 2016 memorandum of understanding on power interchange between the Vietnamese and Lao governments.

According to information on Impact Electrons Siam’s website, the wind farm is targeted to achieve commercial operation by 2023.

Source: Lao News Agency