Project developer Gamuda Berhad of Malaysia says Electricity Generating Authority of Thailand (EGAT) has agreed to purchase 400 MW from the 523-MW Nam Theun 1 hydroelectric project that Gamuda is to build in Laos.
“With EGAT’s acceptance, Gamuda will now proceed to finalize all the relevant agreements pertaining to the project, including the concession agreement with the government of Laos and the power purchase agreement with EGAT,” Gamuda said August 28.
The government of Laos signed a project development agreement in 2004, authorizing the Gamuda civil engineering group to develop Nam Theun 1 on a build-own-operate-transfer basis.
Gamuda, which will serve as engineering-procurement-construction contractor, said construction is expected to start by the end of the year on Nam Theun River in Bolikhamsay Province of central Laos.
Nam Theun 1 has an estimated cost of US$680 million to be funded using project financing and equity, Gamuda said. It said earnings from the construction and the future supply of electricity to EGAT are expected to enhance its future earnings.
For information, contact Gamuda Berhad, 78, Jalan SS22/21, Damansara Jaya, 47400 Petaling Jaya, Selangor Darul Ehsan, Malaysia; (60) 3-77269210; Fax: (60) 3-77289811; E-mail: email@example.com; Internet: www.gamuda.com.my.