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RATCH starts construction of Xe-Pian Xe-Namnoy Hydro Project After Success of THB 22.134 billion Project Finance, Expecting electricity distribution to Thailand in 2018

Mr. Pongdith Potchana, Chief Executive Officer of RATCH disclosed that the development of  Xe-Pian Xe-Namnoy project is moving forward to construction phase, after the success of a THB 22,134  million project financing and EPC agreement have been concluded. The project construction will start about end of this year and will take approximately 5 years before commencing commercial operation in 2018. The 370 megawatt electricity (or 90 per cent) out of 410 megawatts  generated from the project will be distributed to Electricity Generating Authority of Thailand (EGAT) under the 27-year Power Purchase Agreement, while the remaining capacity will be generated to Lao PDR's power system. These will enhance power reliability of the two countries more stable and well serve for their growing power demand. 

“The THB 32 billion Xe-Pian Xe-Namnoy project will partially be funded from shareholders’ capital about THB 9.5 billion which RATCH will afford THB 2.4 billion. The remaining fund will be borrowed from financial institutions. SK Engineering and Construction is responsible for project’s construction. Once it completes, the electricity will be transmitted to Ubon Ratchathani  sub-station, Thailand, through 500 kV grid. It will help secure power stability in Northeastern area” Mr. Pongdith added.

The 410-megawatt Xe-Pian Xe-Namnoy hydro power project, located in Attapue and Champasak provinces in Lao PDR, operates by PNPC, a joint venture between RATCH (owned 25% equity),  SK Engineering and Construction (hold 26% stake), Korea Western Power (hold 25% stake) and Lao Holding State Enterprise (owned 24% stake). On 28 November 2013, PNPC entered into the Syndicated Loan Agreement worth of THB 22,134 million (equivalent USD 714 million), with 4 financial institutions namely Krung Thai Bank, Bank of Ayudhya, Thanachart Bank, and Export and Import Bank of Thailand. In addition, it also signed the EPC Agreement with SK Engineering and Construction for handling construction works to achieve the project’s operation schedule.

 

For further information, please contact:

Public Relations Department

Wiwan Phayakvichien

Tel. 0 2794 9941   

Email: wiwanp@ratch.co.th

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