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Lao, Chinese Investors Join Hands To Increase Steel Production
January 6th, 2018 | 10:37 AM | 2663 views
Khounkham Steel Industry, the manufacturer of Lao Twin Elephant Brand steel (CK), has signed an agreement with Vientiane DKK Steel on Jan 4, 2018 for a US$ 20 million project.
Signatories to the agreement included Mr Home Sihachack, Director of Khounkham Steel Industry and Zhang Kun, President of DKK Steel.
“The agreement we have signed today is the cooperation between a local private company and a foreign private company to increase the production capacity of all steel products in Savannakhet to meet market demand in the province thus reducing steel import and promoting export. Our cooperation will increase our reinforcing bars and steel flat bar production to 200,000-250,000 tonnes per year and increase the number of people employed at our factory to 150-250 people,” said Mr Home.
Based in Savannakhet, Khounkham Steel Industry was founded in 2015 and began its steel production in 2016. The company sells its steel products to major provinces including Vientiane, Luang Prabang, Khammouane and Champassak, among others.
courtesy of KPL NEWS AGENCY
by KPL News
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