August 20, 2012
That Luang Swamp Specific Economic Zone in Vientiane Capital with a huge investment of US$1.6 billion has been confirmed to start its construction on November this year, according to the Wan Feng Shanghai Real Estate Company. Now the company was preparing for the groundbreaking ceremony combining with the atmosphere of ASEM 9, which hosted by the Lao PDR on 5-6 November this year.
The Wan Feng Shanghai Real Estate Company, a concession aire was on survey of area, border mark and construction site, and compensation to affected construction project people will be the late step. The company will certainly put the first gear after ending this rainy season.
While the Minister to the Government Office Mrs. Bounpheng Mounphosay disclosed last week meeting of Specific Economic Zone that the company involved in the development of That Luang swarm is to construct road firstly so that paved a way and gave other facility for the construction work.
This road is designed to be 400 m stretch with 36 m wide linking Phonthan T-junction Traffic light. The land clearance and laying-out waste water system will be operated together.
The development project of That Luang Swamp Specific Economic Zone will be built on a total area of 365 ha, of which 303 ha is the first phase of development and 62 ha will be protected for next expansion.
The project covers six villages of Nonwuay, Meaungnoy, Nonkhor Neua, Phonthan, Phonpapao and Donkoi in Saysettha and Sisattanark districts.
The That Luang Swamp Specific Economic Zone was given a license to the Wan Feng Shanghai Real Estate Company in 2011, which was in efforts to stimulate and promote to the constant growth of socio-economic development, based on trading-marketing economic mechanism each period.
Over US$1 billion of investment will be used for construction of number of high-heeled villa mixing Lao culture and European architecture style, the apartment for rent and other public facilities for tourism. The project will be lasted next 15-20 years.
Photo Credit: Laos News Agency