The Lao government and the Company of Economic Cooperation of Vietnam (COECCO) signed a contract in Vientiane on October 25 on iron ore mining and processing
Vientiane (VNA) – The Laogovernment and the Company of Economic Cooperation of Vietnam (COECCO) signed acontract in Vientiane on October 25 on iron ore mining and processing.
Speaking at the event, Chairman of theCOECCO Board of Directors Nguyen Chinh Nghia said the project will be run inthe Lao province of Xaysomboun and help raise revenues for the Laos’ statebudget.
He pledged to effectively process iron orein line with Laos’ environment protection law, contributing to the effectiveimplementation of the Lao economic development strategy in a green and sustainablemanner.
Lao Deputy Minister of Planning andInvestment Khamlien Phonsena said the project will tighten ties between the twogovernments on the occasion of the Year of Laos – Vietnam, Vietnam-LaosSolidarity and Friendship 2017, the 40th anniversary of the signingof the Laos - Vietnam Treaty of Amity and Cooperation and the 55th anniversary of the bilateral diplomatic ties.
He also committed all possible support tothe project.
The 29 million USD project sits on 640hawith a 24-year land lease.-VNA
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Illustrative image (Source: VNA) 
