Korea signs deal with Laos for hydroelectric power plant

Korea has signed a tentative deal with Laos to provide low-interest loans for the construction of a hydroelectric power plant in the Southeast Asian country, the Ministry of Trade and Finance said yesterday.

Under the memorandum of understanding signed in Vientiane, the capital of Laos, Korea will provide $70 million in loans for the power plant project, which will be located along the Mekong River, the ministry said. It said the loan will be offered under Korea’s Economic Development Cooperation Fund aimed at helping less-developed nations through low interest loans.

SK E&C and Korea Western Power are joining the project, with the former to be in charge of designing and construction and the latter to take care of operation and maintenance.

Bloomberg, Yonhap