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DAM-L LS: Egcomp to invest in Nam Theun 2 (fwd)
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From owner-irn-mekong@netvista.net Sat Oct 7 17:52:21 2000
From: owner-irn-mekong@netvista.net
Date: Sat, 7 Oct 2000 14:45:21 -0700 (PDT)
Message-Id: <200010072145.e97LjLt05394@DaVinci.NetVista.net>
subject: LS: Egcomp to invest in Nam Theun 2
Sender: owner-irn-mekong@netvista.net
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Egcomp Secures Approval from Laos to Invest in Nam Thuen 2 Hydro Project
( October 05, 2000 )
BANGKOK (AFX-ASIA) - Electricity Generating Plc (EGCOMP) said the Lao
National Committee for Energy has approved the company's participation in
the Nam Theun 2 Electricity Consortium (NTEC), replacing Jasmine
International Public Co and Merrill Lynch Phatra Securities.
In a statement to the Stock Exchange of Thailand, the company said its
participation falls under the terms of the government of Lao heads
agreement dated Nov 16, 1998, with the Nam Theun 2 concession agreement
expected to be signed this year.
Participants in the build-own-operate-transfer project are Electricite de
France with 35 pct, the government of Laos with 25 pct, EGCOMP with 20 pct,
Italian-Thai Development Plc with 15 pct and Transfield with 5 pct.
The project has a conract life of 25 years, commencing from the date of
commercial operation, it said, adding that the total investment of the
project is estimated at 1.1 bln usd.
Nam Theun 2 will have total capacity of 1,060 megawatts, of which 980 MW
will be generated for the Electricity Generating Authority of Thailand and
80 MW for Electricite du Lao, EGCOMP said.
It said 920 MW of the sales to EGAT are covered by a 25-year power purchase
agreement.
In addition, 35 MW will be sold to EDL in first the 15 years and will be
increased to 75 MW in the concession's remaining period in line with Power
Purchase Agreement between EDL and NTEC.
Both purchasing agreements will be signed by December this year and NTEC
will generate electricity for EGAT and EDL by December 2006.
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