A new eight-storey modern building of Alounmay magazine voice of the Party Central Committee's Propaganda and Training Board, was officially opened on 3 January.
This building is the only one built with a metal structure in Laos built for Alounmay magazine with financial support of US$11.3 million from the Korean-invested Kolao Group.
The construction of Alounmay magazine - a joint investment project between the Party Central Committee's Propaganda and Training Board and the Kolao Group, is a project implemented under the Party and Government's policy on capitalisation.
This is also a model cooperation project between the government and foreign investor. Under the joint investment, the Alounmay magazine provides a piece of land of 5,540 square metres for constructing the building, and the Kolao Group, a major importer of vehicles Hyundai and other multi-investment in Laos, puts in an investment of US$11.3 million.
The whole building is made of steel and equipped with hi-tech facilities. The construction took 15 months.
The objective of the Kolao Group to build the Alounmay magazine building is aimed at constructing a twin building next to the building of the Indochina Bank Ltd, a landmark of Vientiane Capital, and celebrating the Vientiane's 450th anniversary as the national capital and assisting the construction of the headquarters for the Party Central Committee's Propaganda and Training Board.