 |
| Shareholders sign documents to jointly invest in the liquid bulk tank farm at the Vientiane Logistics Park. |
Private investors to build liquid bulk tank farm in Vientiane Logistics Park
 |
| Officials and businesses pose for a group photo. |
PTL Holding Co., Ltd., Muhibbah Engineering (M) BHD, and OSD Holding Sole Co.,
 |
| Mr Chanthone Sitthixay. |
Ltd. have reached a shareholders’ agreement on establishing PLH Co., Ltd. to build a Liquid Bulk Tank Farm at the Vientiane Logistics Park.
The agreement was signed at a ceremony held in Vientiane on Friday.
The documents were signed by the Chief Executive Officer of PTL Holding Co., Ltd., Mr Chanthone Sitthixay, the Managing Director of OSD Holding Co., Ltd., Mr Oudet Souvannavong, and the Managing Director of Muhibbah Engineering (M) BHD, Mr Mac Ngan Boon.
The ceremony was attended by Deputy Minister of Energy and Mines Mr Thongphath Inthavong, the Malaysian Ambassador to Laos, His Excellency Mohammed Aini Atan, and senior government officials.
Speaking at the ceremony, Mr Chanthone said the construction of a liquid bulk tank farm at the Vientiane Logistics Park would help to meet the growing demand for fuel at a time of rising oil prices.
 |
| Mr Oudet Souvannavong. |
 |
| Mr Mac Ngan Boon. |
“The founding of this joint company will not only enable the long-term supply of fuel but will also bolster revenue collection,” he said.
Mr Chanthone said the three companies that have jointly invested in the project will take at least six months to one year to build the tank farm. The tanks will be able to store 150 million litres of fuel and will have the capacity to supply fuel for a two-month period.
The signing of the shareholders agreement is seen as a milestone in cooperation between strategic and efficient partners from domestic and internationally recognised companies.
“The company that was newly formed by the two Lao and Malaysian investors is determined to develop the tank farm project to help Laos address the energy crisis, especially for petroleum products, and meet the requirements of socio-economic development,” he said.
The Managing Director of OSD Holding Sole Co., Ltd., Mr Oudet Souvannavong, said the joint investment between the two companies in Laos and a Malaysia-based firm will help to meet the demand for fuel in Laos, and is also in line with Lao government policy.
The Managing Director of Muhibbah Engineering (M) BHD, Mr Mac Ngan Boon, said “With long-time experience in investment and engineering, our company intends to apply the use of technical and procedural expertise in the development of the liquid bulk tank farm in the Vientiane Logistics Park.”
By Advertorial Desk
(Latest Update September 13, 2022)
|
