igv: $52.9b, ev: $34m, page-11

China Development Bank backs Laos-China railway link
Apr 21, 2011, 5:28 GMT
(expect to be completed by 2014)
China Development Bank backs Laos-China railway link =
Vientiane (dpa) - The state-owned China Development Bank will take responsibility for financing a 7-billion-dollar Laos-China railway project linking the two neighbouring countries, media reports said Thursday.
A delegation from the Chinese bank met with Lao President Choummaly Sayasone in Vientiane Wednesday to discuss the 421-kilometre railway link, the state-run Vientiane Times reported.
'It is Laos' biggest project of the 21st century and will contribute greatly to national development,' Choummaly said after the talks.
Construction of the line between the China-Laos border and the Lao capital Vientiane is due to begin this year.
China Development Bank is the state bank responsible for financing China's main infrastructure developments, such as Three Gorges Dam and Shanghai Pudong International Airport.
'We are responsible for seeking funding for the project and will pay close attention to encouraging financial contributions,' China Development Bank President Jiang Chaoliang said.
The high-speed railway project is part of the Kunming-Singapore rail link, which aims to boost trade and tourism between South-East Asia and China.
China is now the leading foreign investor in Laos, with projects worth 2.9 billion dollars in the communist country.

http://www.monstersandcritics.com/news/asiapacific/news/article_1634341.php/China-Development-Bank-backs-Laos-China-railway-link