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Deo Ca "joins hands" with PTL Holding to research and build Vietnam's railway

Báo Giao thôngBáo Giao thông01/03/2023


During the working trip from February 26 to 28, 2023 to promote cooperation with Petroleum Trading Lao Group (PTL Holding), in Vientiane, Lao PDR, Mr. Ho Minh Hoang, Chairman of the Board of Directors of Deo Ca Group Joint Stock Company and Mr. Chanthone Sitthixay, Chairman of PTL Holding agreed to jointly study the investment proposal for the Vietnam - Laos railway.

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Deo Ca Group and PTL Holding signed a joint venture agreement to implement the Vietnam - Laos railway project.

To concretize this cooperation, the two enterprises signed a joint venture agreement for the project of building the Vietnam - Laos railway, the section on Vietnamese territory.

The Vientiane (Laos) - Vung Ang (Vietnam) railway has a total length of 554.7km spanning Laos and Vietnam. The project has a scale of 2 rails with a gauge of 1,435mm, speed of 150km/h. The total investment is about 149,550 billion VND implemented under the PPP method.

This railway will connect Vientiane to Vung Ang port, connecting with the Laos-China railway, which is expected to create an extended freight route to northern Laos and southern China.

The Mu Gia - Vung Ang port section is also proposed to be invested under the PPP method with a total length of about 103 km, including 8 stations (1 main station, 7 intermediate stations) with a total investment of about 27,485 billion VND.

According to Mr. Ho Minh Hoang, after the signing ceremony of the joint venture cooperation with PTL Holding, Deo Ca Group will soon have a joint announcement and will report to the Vietnamese Government . In return, PTL Holding will also report to the Lao Government about the cooperation between the two enterprises.

Mr. Nguyen Ba Hung, Vietnamese Embassy in Laos, assessed: “The Mu Gia - Vung Ang railway is a particularly important project, one of the priorities of the Governments of Vietnam and Laos, as demonstrated in the implementation of high-level agreements between the two Parties and two States on economic development and infrastructure development.

“This is a project with many difficulties, but I believe that the combination of Deo Ca and Petroleum Trading will carry out the project well, worthy of the trust of the two governments. I am especially happy that Deo Ca Group is growing and maturing, reaching out to foreign markets, including Laos,” said Mr. Hung.

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Deo Ca Group delegation visited service models at Thanaleng dry port and Logistics park.

In addition to the above project, PTL Holding also expressed interest in investing with Deo Ca in a number of projects in Southern Vietnam in the near future, and invited Deo Ca to study a number of transportation projects in Laos.

“The Lao government wishes to connect and cooperate with Vietnamese enterprises. PTL is interested in transport projects connected to the sea to develop logistics and other services. For example, Vung Ang in Vietnam is the closest seaport to Vientiane,” said Mr. Chanthone Sitthixay.

Also in the working program, the Deo Ca Group delegation visited the Logistics Park project. This is a prominent project of PTL Holding Group, established under the PPP program between Sitthi Logistics Company (a subsidiary of PTL Holding Group) and the Lao Government.

It is known that PTL Holding is a Group operating in the fields of consumer goods, lighting equipment, logistics, retail distribution of petroleum products, and infrastructure investment, among the largest family-owned business groups in Laos. The Group's revenue in 2021 is about 2 billion USD, equivalent to about 1% of Laos' GDP.

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Source: https://www.baogiaothong.vn/deo-ca-bat-tay-ptl-holding-nghien-cuu-xay-dung-duong-sat-viet-lao-192583276.htm

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