(KPL) Lao Government has borrowed over 570 billion kip (US$57.8 million) from Exim Bank of China to invest in rebuilding Luang Prabang’s International Airport. The agreement on such financial assistance took place on this Monday at Don Chan Palace. Signatories to the agreement were Head of Civil Aviation Department, representing the Lao Government, Mr. Yakua Lopangkao, and President of China CAMC Engineering Co., Ltd, Ms. Luo Yan. The ceremony was witnessed by Minister of Communication, Transport, Post and Construction, Mr. Sommat Pholsena, Chinese Ambassador to Laos, and relevant officials. China CAMC Engineering Co Ltd will be responsible for the survey, design and construction of the rebuilding project, expected to be over within 45 months. The reconstruction works include new runway with a length of 2,800m and width of 45m and building two taxiways to access the aircraft hangar of the airport. The development plan also includes the rehabilitation of the hanger to be able to hold four Boeing 737s or ATR 320s. Cutting-edge electrical and advanced aviation radio systems will also be installed in the airport. Under the project new 7,500 sqm terminal will be also built, equipped with lifts, escalators and security system as well as a new road accessing the airport and its parking lot. In addition, China CAMC Engineering Co., Ltd will also train the technical staff of the airport to ensure its international standard service.