The first electricity cable manufacturer in Savannakhet province will start to supply domestic and overseas markets in the next two month after successful tests on production and quality standards. Lao-Viet Copper Cable Joint Venture Co., Ltd invested more than 46.6 billion kip (US$ 5.5 million) to set up a factory in Kheuakhaoka village, Kaysone Phomvihane district, aiming to sell cable locally and overseas in response to strong demand. The plant opened officially in November 2009. The factory is expected to boost the industrial sector, and increase products for domestic markets in the province as well as around the country. Such production will contribute to the Lao economy. The joint venture company has three shareholders, namely, Vietnamese state-owned company Vietnam Post and Telecom (VNPT), Lao private company Bounvilay Trading Export-Import Co., Ltd (BTC), and Post Equipment Factory (POSTEF) of Vietnam. VNPT holds a 50 percent share in the company, with 20 percent for BTC and 30 percent for POSTEF. In the domestic market the main target is the many hydropowers, electricity network and telecom projects that are booming in the country at present, including the installation of electricity in construction projects and private homes. The market for cable is large, both in Laos and overseas. Laos currently relies on imported cable with imports worth more than US$ 10 million.
Source: Vientiane Times
