Business

Published: Monday November 5, 2012 MYT 2:24:00 PM

Malaysian company in US$5bil railway deal in Laos


KUALA LUMPUR: A little known Malaysian company, Giant Consolidated Ltd, has won a US$5bil deal to build a 220km rail link in Laos, a spokesman for the Prime Minister's department confirmed on Monday.

Prime Minister Datuk Seri Najib Tun Razak, who is on a working visit to Laos, is scheduled to witness the signing ceremony between the Malaysian firm and the Laotian government in Vientiane on Monday, the spokesman added.

Giant Consolidated, a unit of Giant Group Ltd, will build an electrified double-track standard gauge railway from Savannakhet to Lao Bao, near the country's border with Vietnam.

No further details were available and company officials could not be reached for comment.

Giant Group is based in Malaysia but incorporated in the British Virgin Islands. Late in 2008, Giant Group signed a preliminary agreement with the Laotion government to conduct a feasibility study on the railway project. - Reuters

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