Govt awards development medals to THPC shareholders
Govt awards development medals to THPC shareholders
The Lao government on Wednesday awarded development Medal Class II to two shareholders of Theun- Hinboun Power Company (THPC) in recognition of their contribution to development efforts in Laos.
On behalf of the government the Governor of Khammuan province, Mr Khambay Damlath, presented medals to two directors of THPC, Mr Robert Kay of GMS Power and Mr Jan Cederwall of Statkraft, both of whom have a 20 percent shareholding in THPC.
The medals were presented in acknowledgement of the contribution of GMS and Statkraft to development in the Theun-Hinboun area above and beyond the obligations of the hydropower concession.
GMS Power and Statkraft each donated US$1.5 million to fund irrigation projects for five villages in Khammuan province in addition to the US$70 million investment in social and environmental programmes under the concession.
“The extra funding of US$3 million by THPC shareholders is a considerable bonus for the important development work being carried out by the hydropower company and it shows the commitment of these investors to the people of Laos,” said Mr Khambay.
Deputy Director General of Khammuan province's Agriculture and Forestry Department, Mr Bounchan Xaypanya, said the social and environmental programme is being carried out by the company in the affected areas.
“The company initially set a total of US$70 million but the additional funds from these two shareholders of the company will play a crucial role in ensuring the most effective implementation of the project,” he said.
Mr Bounchan said that the provincial authorities and the government, especially the Ministry of Agriculture and Forestry, have teamed up to make sure of the most effective use of the funds for infrastructure construction.
“More than US$300,000 is planned for conducting a survey and creating irrigation designs in an area of 3,000 hectares but so far only just over US$180,000 has been used for a variety of activities.”
He said the work on upgrading the pumping system with the use of electric pumps and renovating the irrigation channels from being ditches cut into the soil into being properly constructed channels lined with brick to prevent soil erosion, has already been completed at a cost of more than US$700,000.
“Currently, there are still many activities being planned and carried out in various areas that are also related to the health and education sectors,” Mr Bounchan added.
vientiane times
