Vietnam’s bank helps develop hydropower project in Laos

Tuesday, 2014-01-07 18:15:30
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At the signing ceremony
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Nhan Dan/VNA – LienVietPostBank will provide a loan of US$193.66 million to help build the Sekaman 1 hydropower project in Laos.

 

To this effect, a long-term investment credit contract was signed between the bank and the Vietnam-Lao Power Joint Stock Company on January 6.

The 14-year contract has a value of US$243.66 million which is half of the project’s total investment. Of which, Nomura Special Investments Singapore Pte Ltd will contribute US$50 million.

The project, within the Energy Co-operation Agreement between the Governments of Vietnam and Laos, has a designed capacity of 322 MW to produce 1.22 billion kWh per year. Twenty percent of which will be consumed in Laos while the remainder will be transported back to Vietnam.

Located about 80 km from the Vietnam-Laos border on the Sekaman River, it is scheduled for completion by Vietnam’s Song Da Corporation in late 2014.