Santiphab Sangkasi Lao Co., Ltd, a leading producer and distributor of galvanized iron sheeting, plans to build a new factory to ensure the future growth of its business.
President of Santiphab Sangkasi Lao Co., Ltd. Mr Sangkhom Chansouk gave an interview to KPL News on Wednesday saying that the new factory will sit on five hectares of land in the Vientiane Saysettha Development Zone in Vientiane.
“Early 2017, we will commence surveying and design of the factory as well as prepare for business restructuring,” he said.
Mr Sangkhom explained that the new factory will produce steel roof framing, steel ceiling framing, road guardrails, and street light poles to ensure the smooth growth of the steel market in the country.
Santiphab Sangkasi is in the process of getting listed on the Lao Securities Exchange.
“We will spend funds raised through the Lao Securities Exchange (LSX) through our initial public offering (IPO) of shares to build the new factory,” said Mr Sangkhom.
The company has already appointed a financial advisor to facilitate its preparation for registration on the LSX.
“The advisor will assist our company in upgrading our business structure, financial structure, accounting system, and business plan in order to enhance the competitiveness of our business and expand business operations,” said Mr Sangkhom.
The financial advisor is expected to submit the filing for Santiphab Sangkasi Lao Co., Ltd. to the Lao Securities Committee Office to begin raising funds at the end of 2017 or in early 2018.
“In the initial stage, we will install only five lines of machines to produce the steel roof framings and steel ceiling framing, and then we will install additional machines to produce road guardrails, and street light poles,” he said.
The company said that the factory is expected to create at least 200 jobs for local people.