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That Luang Plaza new trade centre of Vientiane
The Chitchareune Construction Company of Laos and the An Phu-Lao Joint Venture Co. Ltd. of Vietnam held a ground-breaking ceremony for the construction of That Luang Plaza in Vientiane Capital yesterday.
This is a joint investment of nearly US$60 million between a local construction company"Chitchareune" and the An Phu-Lao Joint Venture Co. Ltd. of Vietnam for the development of an old That Luang market at That Luang Tay village, Saysettha district, into a modern commercial area.
An agreement on the That Luang Trade Centre Construction Project was signed in August this year, between Vientiane Planning and Investment Service and Chitchareune Construction Company and An Phu-Lao Joint Venture Company.
The two companies have been authorised to develop the land for the construction of the trade centre, offices for rent, high-class apartment, and modern parking area.
The That Luang modern shopping centre will be built on 51,560 square metres, of which 10,435 sq metres will be used for main building of modern shopping centre, 12,000 sq metres for parking area, 7,500 sq metres for offices and 4,500 sq metres for apartments. The project has been granted a 75-year land concession.
Two project contractors confirmed that the construction of the That Luang Plaza will be completed timely in two years. The plaza is hoped to provide more facilities for Vientiane residents.
The project has received loans from the Bank of Investment Development of Vietnam and the Lao-Viet Bank.
Taking part in the ground breaking ceremony were Standing Deputy Prime Minister Somsavat Lengsavad, Vientiane Mayor Sombath Yialiheu, and other high-ranking officials.
On the occasion, the An Phu-Lao Joint Venture Co. Ltd. has also provided US$100,000 to Vientiane Capital as contribution to the upcoming 450th anniversary of Vientiane proclamation as the national capital, scheduled for November.
kpl lao news agency
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