Last week the Ministry of Finance and Lao-Jinda Industrial Co.Ltd signed a contract, to allow the latter to build a Caustic Soda processing plant.
The Director of Lao-Jinda Industrial Co. Ltd, Mr. Meng Ling Sheng, and the Head of the State Property Management Department of the Ministry of Finance Mr. Phoutthasin Huengthavong signed the agreement to greenlight the project. The agreement allows the usage of 52 hectares of land for building the Caustic Soda Processing Plant in the town of Thakhek in Khammouane province.
The ceremony also saw attendance from officials of the Department of State Property Management, including its Department Heads, and Deputy Heads, alongside representatives from the Ministry of Finance and Lao-Jinda Industrial Co., Ltd.
The agreement will be in effect for 30 years, starting from 2022-2052. The industrial company will also be paying USD 800 in rent per hectare every year.
The rent collection will begin in 2022, and the amount will increase by five percent every five years.