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Vietnam’s bank helps develop hydropower project in Laos

LienVietPostBank will provide a loan of 193.66 million USD to help build the Sekaman 1 hydropower project in Laos .
LienVietPostBank will provide a loan of 193.66 million USD to help build the Sekaman 1 hydropower project in Laos .

Tothis effect, a long-term investment credit contract was signed betweenthe bank and the Vietnam-Lao Power Joint Stock Company on January 6.
The 14-year contract has a value of 243.66 million USD or half ofthe project’s total investment. Of which, Nomura Special InvestmentsSingapore Pte Ltd will contribute 50 million USD.

The project, within the Energy Cooperation Agreement between theGovernments of Vietnam and Laos, has a designed capacity of 322 MW toproduce 1.22 billion kWh per year. Twenty percent of which will beconsumed in Laos while the remainder will be transported back toVietnam .

Located about 80 km from the Vietnam-Laos border onthe Sekaman River , is scheduled for completion by Vietnam ’s SongDa Corporation in late 2014.-VNA
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Illustrative image (Photo: VNA)

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(Photo: VNA)

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