𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐓𝐫𝐮𝐬𝐭 𝐢𝐧 𝐁𝐡𝐮𝐭𝐚𝐧’𝐬 𝐂𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐒𝐞𝐜𝐭𝐨𝐫: 𝐋𝐒𝐑𝐏𝐋 𝐒𝐢𝐠𝐧𝐬 𝐌𝐨𝐔 𝐰𝐢𝐭𝐡 𝐂𝐀𝐁
Lhaki Steels & Rolling Pvt. Ltd. (LSRPL) signed a Memorandum of Understanding (MoU) with the Construction Association of Bhutan (CAB) in Thimphu.
The MoU, endorsed by LSRPL CEO 𝗣𝗵𝘂𝗯 𝗗𝗼𝗿𝗷𝗶 𝗪𝗮𝗻𝗴 and CAB Executive Director 𝗦𝗼𝗻𝗮𝗺 𝗪𝗮𝗻𝗴𝗰𝗵𝘂𝗸, sets out a framework to provide CAB-verified contractors with a 𝗼𝗻𝗲-𝗺𝗼𝗻𝘁𝗵 𝗰𝗿𝗲𝗱𝗶𝘁 𝗳𝗮𝗰𝗶𝗹𝗶𝘁𝘆 𝗳𝗼𝗿 𝘁𝗵𝗲 𝘀𝘂𝗽𝗽𝗹𝘆 𝗼𝗳 𝗣𝗘𝗥𝗙𝗘𝗖𝗧 𝗧𝗠𝗫 𝗧𝗠𝗧 𝗥𝗲𝗯𝗮𝗿𝘀.
To avail of this facility, contractors must submit (i) a valid Bank Guarantee and (ii) a Payment Order from the procuring agency (government or private) confirming their entitlement to payment for works involving the procured materials.
Under the agreement, 𝗖𝗔𝗕 𝘄𝗶𝗹𝗹 𝘃𝗲𝗿𝗶𝗳𝘆 𝗮𝗻𝗱 𝗲𝗻𝗱𝗼𝗿𝘀𝗲 𝗲𝗹𝗶𝗴𝗶𝗯𝗹𝗲 𝗰𝗼𝗻𝘁𝗿𝗮𝗰𝘁𝗼𝗿𝘀, while 𝗟𝗦𝗥𝗣𝗟 𝘄𝗶𝗹𝗹 𝗲𝘅𝘁𝗲𝗻𝗱 𝘁𝗵𝗲 𝗰𝗿𝗲𝗱𝗶𝘁 𝗳𝗮𝗰𝗶𝗹𝗶𝘁𝘆 𝗮𝗻𝗱 𝗺𝗮𝗻𝗮𝗴𝗲 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻𝘀.
This collaboration is designed to build trust, improve financial access for contractors, and further strengthen Bhutan’s construction sector.
