Laos, China establish minerals research service

Laos, China establish minerals research service

(KPL) The Geology Department, Ministry of Energy and Mining and Qinhuangdao Xinhe Steel and Mining Development Co., Ltd (China) have begun constructing a minerals research and survey service in Vientiane Capital.
The service construction is worth US$ 20 million. The agreement on the construction was signed here last week between Head of Geology Department, Mr. Chansone Sanbouthalath, and Director General of Qinhuangdao Xinhe Steel and Mining Development Co., Ltd, Mr. Xia Zhiwen.
Deputy Minister of Energy and Mining, Mr. Somboune Rasasombath, and Chinese Economic Attaché to Laos, Mr. Chen Hangao as well as relevant officials of both sides witnessed the signing.According to the agreement the Chinese investor will be financially responsible for the construction of the service, equipping human resources and technology into the service and training the Lao technical staff.
The government has grants 15 years to the investors for operating their service in the country with two additional extension periods of 10 years.