VIENTIANE - China's Hebei Construction and Investment Group Co Ltd (HCIG) on Friday signed an agreement with Lao Ministry of Planning and Investment on the development of a hydropower plant in Lao southern Sekong province.

Lao Deputy Minister of Planning and Investment Khamlien Pholsena, Vice-General Manager of HCIG and Chairman of the Construction and Investment International Co Ltd Wang Jinsheng jointly signed the agreement.

Speaking at the signing ceremony, Wang said his company will follow the requests put forward by Lao government, strictly fulfill its obligations and responsibilities to soon finish procedures and construction of the plant for the prosperity of Laos and improvement of local residents' lives.

The Construction and Investment International Co Ltd is a wholly-owned subsidiary of HCIG which is an entity of Hebei's State-owned Assets Supervision and Administration Commission.

Earlier in July 21, 2015, the Construction and Investment International Co Ltd and Lao Ministry of Planning and Investment signed a Memorandum of Understanding (MoU) on the project of hydropower plant on Huai La-Nge River at Kaleum District in Sekong privince, some 530 km southeast of Lao capital Vientiane.

After fulfilling all the work specified in the MoU, HCIG and the Lao ministry signed the project development agreement on Friday in Lao capital Vientiane.

The hydropower plant has an installed capacity of 60 MW with total investment of $136 million, according to General Manager of the Construction and Investment International Co Ltd Yu Zhongcai.