The Lao government opened the green light for the Indochina Consulting Company to develop the Nam Neun Hydropower project in Houaphanh province, after spending a year for the feasibility study.
The MoU was signed on 8 October between the Deputy Minister of Planning and Investment, Mr Thongmy Phomvisay and the Chairman of Indochina Consulting Company, Mr Yeun Kuen Jung.
Mr Jung said that we are ready to fork out over US$400 million to construct Nam Neun Hydroelectric Power project in Houaphanh province.
The Nam Neun Hydroelectric Project, Lao government has given us to conduct the feasibility study late last year, he said.
After studying we found that the hydropower plant has the generation capacity of more than 200 Megawatt, he said.
We expected that the construction would be fully completed within four years after signing the MoU, he said.
Lao government allowed us to conduct the feasibility study in construction of Nam Neun Hydroelectricity Power project, due to our experienced company on developing in hydropower construction, and we are the consultant for electric vehicles company in the Republic of Korea and foreign countries for years, he said.
The government holds 25 percent of shares and for the rest is Korean investment.
In 2007, the company has received the permission from the Lao government to survey the development and construction of hydropower electricity in the Nam Et in Houaphanh province, he said./.