Laos to build railway to Vietnam
Construction work on a US$5 billion railway linking Laos to Vietnam is scheduled to begin in January, media reported on Wednesday.Full Story
#1 Nov 23, 2012
This is good for Laos and Vietnam. Go, go, go.
This is not only connect to Vietnam but connect to the world. Connect to Vietnam seaport will connect to the world.
If Laos builds the rail road to China, it only connect to a corner of China, not to the world. It's foolish to spend more to connect less. I doubt the 7 billion US dollars project will take off as no Chinese bank foolish enough to loan the money for this project. What China really wanted is to connect to Thailand through free-land from Laos.
#2 Dec 12, 2012
I don't think the 7 billion US dollars project will ever takes off. Now the Chinese bank is demanding such a high interest, 3.3 billions out of the principle amount 7 billions. That's almost 50% of the principle!!!
There is no way Laos could afford to pay back the whole amount of 10 billions, principle + interest.
This project will never take off.
P.S. It is normal for a bank to ask for a high interest rate for a risky project.
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