Lao construction company links up with India’s Tata
(KPL) Tata International Limited Group-, the giant Indian conglomerate, linked up with Laos’ Phongsavanh Construction Company Group, to jointly carry out construction and infrastructure development in Lao PDR, amid the skyrocketing economic growth of Laos.
The two companies signed a Memorandum of Understanding on business cooperation in construction and infrastructure development in this country was inked in Lao Plaza Hotel, Vientiane 20 July.
The two main signatories were General Director of Phongsavanh Construction Company Limited, Somboun Phongsavanh and Executive Director of Tata International Limited, Ok Kaul. The other two were Managing Director of HSMM Group, Habib Mohammed Chowdhury and Vice- President of Engineering BU, Tata International Limited, P K Banerjee.
During this ceremony the two parties said that the first phase of business cooperation would be in construction and infrastructure development but for the long term cooperation, they said they would be looking for projects that they could work amicably together and at the same time reap reasonable profit.
Meanwhile, Ok Kaul said Tata was interested in a wide range of business activities, mining, construction of hydropower plants, media, engineering services, commodities, consumer goods and chemicals.
He also said that Tata was active in eight business sectors, IT, communications, engineering, materials services, energy, consumed products and chemicals.
Tata , India ’s largest conglomerate, enjoyed a revenue of over USD 70 billion for the financial year ending March 31, 2009. It employed 363,000 people, exported products and services to 85 countries and had operations in 80 countries.
Managing Director of HSMM Group Mr Habib Mohammed Chowdhury said that TaTa International Limited Group planned to import TaTa Auto car to sell in Laos by 2011. This imported car combined four wheels with containing five people in the side. Initially it estimated that car’s price is at USD 2,500 or 24 million kip.
He said that importing auto car is to respond Lao people’s demand as attempting to open more opportunities for middle and low income people accession to facilities through India- made car besides it also make people more options.
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