Bloomberg TV delves into economic impact of Xayaboury dam
Bloomberg TV delves into economic impact of Xayaboury dam
A film crew from Bloomberg TV , one of the top business news organisations in the world visited the Xayaboury Hydropower Project to gauge the economic impact it will have on Laos and the Asean region.
According to a report from the Ministry of Energy and Mines, t he mega investment project will play a significant role in boosting the economic growth of Laos as it will generate US$3.9 billion in tax, royalties and dividends to the government throughout its 29 years of concession.
The construction of the power plant began in 2011 and commercial operations are expected to start in 2019. At present, 21 percent of the project implementation has been completed.
A Bloomberg TV news crew travelled to northern Laos to film a segment for the upcoming business documentary series called The Power of Asean. Each of the four 30-minute episodes on modes of energy production in Sou theast Asia will be broadcast on Bloomberg TV throughout Asia and Europe every week starting August 13.
Laos will be the focus of the segment on hydropower in the region.
On July 23, the Bloomberg crew interviewed Ministry of Energy and Mines Deputy Minister Viraphonh Viravong, who described the state-of-the-art, run-of-river Xayaboury project as a key component of Laos' plan to be the ‘Battery of Asean'. He also discussed the direct and indirect benefits of hydropower development for the people of Laos.
“The government of Laos remains very open to constructive input on the Xayaboury project as it strives to develop hydropower sustainably,” he said.
Knut Sierotzki, Pöyry Energy's Director of Hydropower for Asia and Russia, and the Lao government's engineering consultant for the project, discussed the progress of construction of the 1,285 MW Xayaboury hydropower plant, one of the biggest and most technologically advanced in Southeast Asia. Its output of electricity will be equal to the amount produced by two nuclear power units, he said. The project is on schedule for full operation in 2019.
The TV crew also interviewed area residents to better understand how the government and project developer, Xayaboury Power Co. Ltd., are compensating them and assisting them in establishing new livelihoods. Villagers are working for the project as carpenters, labourers and drivers, as well as raising catfish, frogs and other products for sale locally and to markets in Luang Prabang and Vientiane.
Bloomberg LP, the TV channel's parent company, delivers business and financial news, data and analysis to more than 320,000 subscribers around the world. The company employs more than 2,400 news and multimedia professionals at 150 bureaus in 73 countries.
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