Vientiane Times, February 08, 2013
Nam Lik 1 Power Company Ltd, PTT International Company Ltd, Hydro Engineering Company Ltd, and POSCO Engineering and Construction Company Ltd will invest US$124 million to develop the Nam Lik 1 hydropower project.
The agreement on the project’s development was signed on Wednesday in Vientiane between the Lao government and the companies.
Deputy Minister of Planning and Investment Dr Bounthavy Sisouphanthong represented the Lao government while PTT International Vice President Mr Wisate Chungwatana represented the project developers in the signing.
Deputy Director of the Business and Energy Department of the Lao Ministry of Energy and Mines, Dr Khamchanh Parayok, Vientiane Province Department of Planning and Investment Mr Oudong Phonphaypadith, Hydro Engineering Managing director Ms Chinda Ho ngkajorn, and POSCO Engineering and Construction Vice President Mr Tae-Hoon Kim, witnessed the signing.
The developers have planned to begin dam construction in April, and to start commercial operations three years later.
The 65 megawatt hydropower project is located in Hinheup district, Vientiane province, and has a concession period of 30 years.
All the electric power to be produced will be supplied to Electricite du Laos for domestic consumption
At the signing ceremony, Mr Wisate, on behalf of the developers, said they promised success for the project while paying strict attention to social and environmental issues, especially for those people who will be impacted by it, to make sure they receive appropriate compensation.
He said the developers have established measures for living conditions development of the community, and hope that the project’s completion will contribute to electric power security for Laos and boost economic growth for Vientiane province.