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Khammuan industrial zone kicks into gear
The Jo Bounmy Company on Friday hosted a ground breaking ceremony for a 544 hectare industrial zone in Thakhek district, Khammuan province.
Ms Bounmy Bangonsengdeth ( third left ) joins provincial officials and business operators to break ground at the industrial zone development project.
“Singaporean and Chinese businesses have jointly invested about US$1.5 billion in the project,” company President Ms Bounmy Bangonsengdeth said at the ceremony.
The company will own the project site for 75 years after receiving a concession from the Lao government.
The site is located in a special economic zone close to the recently opened Lao-Thai Friendship Bridge across the Mekong River.
The company expects to develop the area into an industrial park. It will build processing plants, assembly lines and other facilities for the production of electrical equipment, telecommunications equip-ment, garments, drinking water, food, construction equipment, animal feed, and shoes. The site is also expected to have warehouses, hotels and resorts.
“Initially we will invest in a vehicle assembly plant, which we think will take about three years to build. Then other facilities will follow,” Ms Bounmy said.
The project aims to support the government's policy on adding value to export products and on providing employment for local people in order to improve living conditions in Laos.
“We expect the overall project will provide employment for more than 2,000 people,” she said.
vientiane times
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