Giant investment project to Laos submitted to Government

The Ministry of Planning and Investment (MoPI) has submitted to the Prime Minister for approval a 1 billion USD project to build a golf course, five-star hotels and hostels in Vientiane , Laos .

If approved, it will be Vietnam ’s ever largest investment project abroad.

The project’s investor, Long Thanh Golf Investment and Business Joint Stock Company, said it plans to mobilise capital from share holders, domestic and foreign partners and bank loans.

According to the MoPI, Vietnam is the largest foreign investor in Laos with 146 projects worth 1.5 billion USD.

In the first 11 months of 2008, Vietnamese businesses invested in 52 projects in Laos with total registered capital of 450 million USD.

Half of the investment (54.7 percent) is poured into hydro-power plants, while 29.9 percent go into industrial tree planting. Mining projects account for 8 percent of the capital, and the remainder is invested in wood processing, industry and pharmaceuticals.

Source: VNA

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EVN to generate power in Laos

The EVN International Joint Stock Co of Viet Nam signed a memorandum of understanding (MoU) with the Ministry of Planning and Investment of Laos to invest capital in three hydroelectric plants.

The Nam Et 1, 2 and 3 plants, designed to have a total capacity of 420MW, are located in Muang Et District, Huaphane Province, Laos.

The finished projects, which are part of a commitment on investment co-operation and electricity exchange between Viet Nam and Lao, will provide 20 per cent of its output to the Laos grid and the remaining will be sold to Viet Nam.

CEO of the EVN International Co, Nguyen Duc Tuyen, said the company was also outlining investments in hydroelectric projects in Cambodia, including Ha Sesan 1/ Sesan 5 and Nattarat Kiri, Ha Sesan 2.

Both Ha Sesan projects, which are part of an investment co-operation between Viet Nam and Cambodia, are scheduled to begin construction later this year and be operational in 2014.

EVN International Co will combine the 220kV electrical network of both Ha Sesan projects with the domestic electrical system.

The completed projects will export a remarkable amount of electricity to Viet Nam and help solve the domestic shortage of electricity and ensure the local electrical system will be safer and more reliable.

Source: Viet Nam News
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