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dam-l LS: Vietnam: Can Don dam gets go ahead
>
>Official website of the VIETNAM ECONOMIC TIMES
>
> Date: Thursday, October 07, 1999
>
> License handed to Can Don hydro power plant
>
> (VET)- On October 5 MPI handed the license to Song Da Construction
> Corporation to undertake the Can Don hydropower project, the first
> locally-invested build-operate-transfer (BOT) hydroelectric power
> station in the country with a capacity of 72MW to be located between
> Binh Phuoc and Tay Ninh Province. The project costing an estimated US$
> 81.6 million is expected to be built in late 1999 and put into
> operation in 2002. Song Da Construction Corporation will run the
> project for 25 years after that the power station will be transferred
> to the Government.
>
> Song Da Construction Corporation will enjoy some tax preferentials,
> for example exemption of corporate income tax for the first 4 years
> and then reduction of 50 percent of this tax for the following 9
> years. 30 percent of the cost for the project is expected to come from
> the Corporation and the remainder from the bank loans The Ministry of
> Finance has pledged to provide guarantees for the investor to borrow
> foreign currency from the four State-run banks, which now hold
> combined surplus foreign funds of US$ 400 million to import equipment.
>
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Aviva Imhof
South-East Asia Campaigner
International Rivers Network
1847 Berkeley Way, Berkeley CA 94703 USA
Tel: + 1 510 848 1155 (ext. 312), Fax: + 1 510 848 1008
Email: aviva@irn.org, Web: http://www.irn.org
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