An official groundbreaking ceremony for the construction of Latsavong Plaza begins to start work
Introduction: Construction of the first military hospitality building aiming to serve regional guests, in particular those attending the Asean summit meeting in 2016 in Vientiane, began on Monday after having been delayed for years.
Story: An official groundbreaking ceremony for the construction of Latsavong Plaza was held on Monday to start work on the 150,000 square metres of space which will include a 32 storey five-star hotel, office building, apartment building, healthcare centre and modern trade centre, which will become the national trade centre in the future.
The Ministry of National Defence cooperated with the Chongqing F.U.N.D Real Estate company limited on the construction of the project which is expected to cost a total of US$99 million.Chairman of the company Fan Yan said that the construction will create a new image of Vientiane showing it to be a modern, international place. He said, “We expect it to be completed in 2016 and it will be ready to serve those guests from this region who will attend the Asean Summit in Vientiane,”
National Defence Minister, Lieutenant General Sengnouan Sayalath said that China had been right at the top in investment in Laos since 2008, as much for the country’s development as a whole as for the development of Vientiane. He believed that the Latsavong Plaza project would establish a new standard of hospitality in Vientiane. It will be another new symbol of Laos and China cooperation with friendship. “The ministry promises to give all cooperation to the company for the success of the project.”
The Ministry of National Defence had previously agreed in 2012 to a foreign company developing the old Latsavong hotel building to be a five-star hotel but there was a problem on the investment side and the project never went to contract.This is the second company approved by the ministry to launch the Latsavong Plaza project in 2013.
Source: Lao National Television News in English
Broadcast on October 01, 2014