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PTTOR senior government vice-president for Worldwide Advertising, Songpon Thepnumsommanus, and PTLH CEO Chanthone Sitthixay have signed a memorandum of understanding (MoU) on the joint improvement of and potential funding in a gas tank farm and logistics operation on the Vientiane Logistics Park within the Lao capital. VIENTIANE TIMES
Two giant Lao and Thai gas operators, PTL Holding Co Ltd (PTLH) and PTT Oil and Retail Enterprise Pcl (PTTOR), have signed a memorandum of understanding (MoU) on the joint improvement of and potential funding in a gas tank farm and logistics operation on the Vientiane Logistics Park within the Lao capital.
The settlement was inked in Vientiane final week by PTTOR senior government vice-president for Worldwide Advertising, Songpon Thepnumsommanus, and PTLH CEO Chanthone Sitthixay.
PTLH and PTTOR determined to enter into the MoU as the 2 events want to discover alternatives and develop potential collaboration in relation to joint funding within the industrial property often called the Vientiane Logistics Park, which is situated in Dongphosy village, Hadxaifong district, Vientiane, Laos.
PTLH and PTTOR want to collectively conduct working, cooperation and feasibility research in logistics, buying and selling and provide of petroleum from Thailand to Laos and the South of China, and different areas as agreed by each events.
The MoU information the “understanding and elementary rules” laid down by the events to research, assess and consider the feasibility and potential of collectively creating the venture. The 2 events and their associates shall collaborate with one another “in good religion” and shall absolutely carry out their obligations for the effectiveness of the MoU.
The MoU shall be a body of reference to collectively conduct the working, cooperation and feasibility research and related types of cooperation so as to consider the feasibility and potential improvement of the venture in relation to funding, monetary, industrial, authorized and associated facets.
A part of the PTLH, Petroleum Buying and selling Lao Public Co (PetroTrade) was based in 2008 with the imaginative and prescient of delivering high quality oil at a good value to all areas for a greater high quality of life. This inspiration got here from the firsthand experiences of the founder, who realised that entry to gas in distant areas is normally an issue and causes vital financial injury.
PetroTrade was registered as a public firm and was listed on the Lao Securities Trade (LSX) in 2014 to draw Lao and overseas traders as shareholders, changing into the primary native firm within the petroleum enterprise to be listed on the bourse.
It envisages future alternatives the place financial competitors will turn out to be far more intense owing to implementation of the ASEAN Financial Neighborhood (AEC) and the rising home consumption of power in response to the federal government’s coverage of bolstering nationwide financial progress and turning Laos from a landlocked nation right into a land-linked hub throughout the area.
It’s the second personal petroleum firm in Laos to personal a contemporary laboratory for oil high quality monitoring, accredited by ISO 9001:2015, ISO 14001:2015, and OHSAS 18001:2015.
VIENTIANE TIMES/ASIA NEWS NETWORK
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