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Monday December 18, 4:48 PMLaos to issue 1.5 bln baht bonds for Nam Ngum 2 damBANGKOK, Dec 18 (Reuters) - The Lao government plans to issue bonds worth up to 1.5 billion baht ($42.5 million) to help finance the country's Nam Ngum 2 dam project, a Thai government spokesman said on Monday."The Lao government will be first country to issue Thai baht bonds," chief spokesman Yongyuth Mayalarp told reporters after a visit by Lao Prime Minister Bouasone Bouphavanh. The bonds would be issued by the Lao power state enterprise and guaranteed by state-run Export-Import Bank of Thailand, he said. Earlier on Monday, the Thai government signed a memorandum of understanding to lend the Lao government up to 1 billion baht or the equivalent amount in other currencies to finance the construction of the dam and its hydropower plant. The 615-megawatt plant, due to start operations in 2013, is part of Thailand's long-term plan to purchase 5,000 MW of power from its neighbour, whose top export is electricity. The project is being developed by a joint venture firm, South East Asia Energy Co, with Thai construction firm Ch Karnchang PCL the largest shareholder with a 28.5 percent stake. The Lao government and Ratchaburi Electricity Generating Holding each hold a 25 percent stake and Thai highway operator Bangkok Expressway PCL has 12.5 percent. ($1=35.27 Baht) |
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