Vietnam's HAGL to build $135 mln power plants in Laos

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Vietnam's Hoang Anh Gia Lai Joint Stock Co said its power unit has secured a license to invest some $135 million to build two hydropower plants in Laos.

Hoang Anh Attapeu Electric Ltd Co is scheduled to start construction of the Nam Cong 2 and Nam Cong 3 plants this quarter in Attapeu province in southern Laos, which borders Cambodia and Vietnam, it said in a statement seen on Tuesday.

The license was granted by Vietnam's Ministry of Planning and Investment.

The dynamos will have a combined capacity of 111 megawatts and annual output of 433.35 million kilowatt-hours.

Nam Cong 2 will cost $78.98 million and have a capacity of 66 MW, while Nam Cong 3, worth $55.97 million, will have a capacity of 45 MW, the company said.

Construction will take two-and-a-half years and the plants are slated to start operation at full capacity from December 2013 and be operational for 40 years, it added.

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