Vietnam hydropower builder Cavico Corp. has received approval to invest US$120 million in the 80-MW Nam Kong 2 hydroelectric project, which Cavico is to build in Laos.
Cavico said April 22 it received approvals from the Vietnam government and Laos’ Ministry of Energy and Mines to invest in the project in Laos’ Attapeu Province, 30 miles from the Vietnam border. Construction of the US$120 million plant is to be complete by 2012.
Cavico said it will have a 70 percent interest in the plant, with Electricity of Vietnam (EVN) holding the remaining 30 percent. EVN is to buy all project power, about 400 million kWh annually, for resale within Vietnam.
