Vietnam Oil and Gas Electricity Corp. (Petrovietnam Power) awarded a contract to Electricity Construction Consultancy Co. No. 1 (ECC1) to survey the area of the 1,240-MW Luang Prabang hydropower project in Laos’ Luang Prabang Province.
State run Vietnam News Agency (VNA) said ECC1 is to begin surveying terrain, geology, and hydrography of the proposed project site under the contract signed December 3.
Vietnam state oil monopoly Petrovietnam signed an agreement with Laos in October to invest US$1.7 billion in Luang Prabang, which is to be developed on the Mekong River on a build-operate-transfer basis. (HNN 10/23/07)
VNA said the project’s US$2 billion investment capital is being contributed by Vietnam groups and businesses including Vietnam Oil and Gas Electricity Corp., Da River Corp., Electricity of Vietnam, Vietnam Machinery Installation Corp., Bank for Investment and Development of Vietnam, and An Binh Commercial Joint Stock Bank.
A delegation of Vietnamese businesses, including Petrovietnam, visited Laos in early October securing agreements to invest in 13 projects including Luang Prabang, VNA said. Studies have found Luang Prabang to be among a half-dozen feasible hydropower sites on the Mekong within Laos.
In June, Petrovietnam established Petrovietnam Power to invest in and run power plants, including hydropower. (HNN 6/18/07) The wholly owned subsidiary also is to oversee a number of hydropower projects in which Petrovietnam has investment interest.
