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Laos to get first dividend from NT2
Lao Holding State Enterprise (LHSE) is now preparing documents to receive their first dividend from the joint venture with Nam Theun 2 Hydropower Electricity (NT2).
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Dr Somboun Manolom
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“We can say that our business is doing well since the company was first established in 2005,” LHSE director Dr Somboun Manolom said at a review of their business performance during the first six months of the year.
LHSE will receive over US$8.8 million for the first dividend, he pointed out, adding that the Lao government will receive an additional US$5.7 million in royalty payments.
Construction of the NT2 hydro-electric plant was completed last year, with the plant commencing operations in May 2010, generating electricity for sale to Thailand. Around 3,433 GWh was produced in the first six months of the year. Of that, about 3,272 GWh was sold to the Electricity Generating Authority of Thailand (EGAT). NT2 also supplied more than 161 GWh to Electricite du Laos.
According to the LHSE, it's expected that the company will earn at least US$16 million in 2011 from NT2, which will be paid in the second dividend of the year.
NT2 is not only providing a large amount of revenue for the Lao government, but is also showing itself to be a model for future electricity projects in Laos and elsewhere, in terms of environmental and social responsibility.
On April 14, NT2 was announced hydroelectric power project of the year 2011 by Global Energy Magazine as voted in an online survey. Dr Somboun said the award demonstrates the company's role as a leader in energy services worldwide.
LHSE has shareholdings in nine power plant projects in Laos, namely Nam Theun2, Hongsa Lignite Fired Power Plant, Nam Ngum 3, Nam Ngiep 1, Xepien-Xenamnoy, Xekong 4, Xekong 5, Namkong 1 and Nam Theun 1.
At present, only NT2 is supplying electricity to Thailand, but many of the projects in the pipeline have supply contracts, while others are in the process of negotiating them. More than US$10,843 million worth of investment has gone into hydro-electric plants in Laos, and LHSE has shareholdings in the vicinity of US$740 million.
vientiane times
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