HAG Nam Kong II HPP

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Hong Anh Gai Lai Minderal JSC (HAG), from Vietnam, was planning the development of the 66 MW Nam Kong 2 and the 35 MW Nam Kong 3 hydropower plants. The MOU for Nam Kong 2 was signed in January 2010 and expired July 2011. The PDA for the Nam Kong 2 was signed in March 2011 and valid for 18 months. The Nam Kong 3 MOU was signed December 2005 and expired in September 2008, was subsequently renewed in August 2009 and expired again in February 2011. Commissioning was expected for 2015 (Nam Kong 2). Construction started in March 2011. The projects were expected to generate 170.13 million kWh (Plant 3) and 263.22 million kWh (plant 2), annually. Nam Kong 2 was expected to cost VND 1.5 trillion ($71.42 million) and Nam Kong 3 VND 1.064 trillion ($50.6 million). Nam Kong 2 reached financial closure in March 2012 with Lao-Viet Bank. Lao-Viet Bank was a joint venture between Bank for Investment and Development of Vietnam (BIDV) and Banque Pour Le Commerce Exterieur Lao (BCEL), set up in 1999. Lao Viet Insurance Company, the insurance branch of Lao-Viet Bank provided insurance to the project. Nam Kong 3 may reach updated status, then needs to be added. http://laovoices.com/lao-viet-bank-signs-agreement-with-nam-kong-2-hydro-project/ http://en.baomoi.com/Info/LaoViet-Bank-signs-agreement-with-Nam-Kong-2-hydro-project/3/247159.epi