Receiving and working with the Lao delegation were Standing Deputy Secretary of the Provincial Party Committee Tran Cong Thuat, Chairman of the Provincial People's Committee Nguyen Huu Hoai, Standing Vice Chairman of the Provincial People's Committee Nguyen Xuan Quang, Vice Chairman of the Provincial People's Committee Le Minh Ngan; Deputy Minister of Planning and Investment cum Deputy President of the Vietnam – Laos Cooperation Sub-Committee Nguyen The Phuong and among others.

At the meeting, the two sides informed each other of situation of the project of building a bonded warehouse and oil pipeline system from Hon La port, Quang Binh (Vietnam) to Khammouane province (Laos).

Accordingly, the project is funded by the Lao Perto Company Limited with a total investment of USD680 million, aiming to supply oil and gas, ensuring energy security, oil and gas trade with the neighboring countries, contributing to promoting socio-economic development of Laos.

The project is expected to put into operation for the first phase in the 2018-2020 period.

The project's main structures include a wharf for vessels with capacities of 50,000 tonnes and above each, a 300km-long oil pipeline and a system of four pumping stations, as well as a warehouse system with a total capacity of about 300,000 to 500,000 cubic metres for temporary import and re-export to Laos.

Quang Binh province's leader presents a souvenir gift to a representative of Lao delegation

On the spirit of open discussion and responsibility, the two sides exchanged on expenses for compensation and site clearances, tax exemption and reduction from land hire, fees for oil transit, etc in order to quickly reach the agreements.

Speaking at the meeting, on behalf of provincial leader, Chairman of the Provincial People's Committee Nguyen Huu Hoai applauded for the working visit of Lao delegation and affirmed that the Quang Binh Provincial People's Committee would create all favorable conditions for Lao Petro Company Limited to implement the project under the direction of the Politburo of the two nations; closely coordinate with ministries and central agencies to quickly implement negotiatons and sign agreements.

By Nhu Y
(Source: Quang Binh Portal)