Belt And Road Power Line Project Completed In Laos.
Legal News & Analysis - Asia Pacific - Laos - Energy & Project Finance
9 October, 2018
A major power transmission line project in Laos that forms part of China's belt and road initiative has been completed.
The $200 million power transmission and transformation line project will enable electricity transfer from production sites to the northern and central provinces in Laos.
It was made possible by the Chinese government's preferential loan project and has been financed by the China Export-Import Bank. Engineering contractor NORINCO International Cooperation carried out the work under a $199m engineering, procurement and construction contract for the 345kV line.
NORINCO International general manager Yuanjun said that the project promoted economic cooperation between China and Laos in response to the 'one belt one road' initiative.
NORINCO and Electricite du Laos (EDL) previously worked together on the Nam Phay Hydropower project, a 25-year commercial operation that began in November 2017. It was the first BOT (build operate transfer) franchise investment project undertaken by NORINCO.
NORINCO is affiliated to China North Industries Corporation and is involved in implementing the state’s one belt one road initiative.
This article was published in Out-law here.
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