Vietnam to explore iron ore in Laos

Vietnam ’s Company of Economic Cooperation (COECCO) and Lao Government’s representative on December 25 signed a contract of surveying and exploring iron ore in Laos .

Attending the signing ceremony were Lao Deputy Prime Minister-cum-Defence Minister Phonthay Douangchai Phichit and Minister of Planning and Investment Thoongmy Phomvisay.

For Vietnamese side, there were representatives of Vietnamese embassy, Vietnam trade office in Laos , COECCO and some Vietnamese companies operating in Laos .

Under the agreement, COECCO will have 48 months to explore, survey and formulate a feasibility study report on the 44 sq.km area in Vientiane province with an initial capital of 3 million USD.

The company will submit the report to the Lao government for further negotiations.

Source: VNA

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