The NT2 investment group says it will spend $30 million to begin the necessary pre-construction works in May, in preparation for the eventual construction of the controversial Nam Theun 2 dam. When completed, the NT2 hydro-power project will sell 995 megawatts of the power it generates to Thailand for 25 years. The dam is expected to bring in a revenue of $5,000 million a year, of which $2,000 million will go to the Lao government as concession fee.
However, the World Bank has not yet said it will provide the much-needed loan guarantee that will allow the NT2 developers to borrow from commercial banks.
Listen to our Laos Today report for details.