Government Has 13 Payment Guarantees for Energy Projects

24 February 2013
The Cambodia Daily
Aid and development / Asian Development Bank (ADB) / Coal / Development policy and administration / Energy / Environment and natural resources / Generation and distribution facilities / Hydropower dams / Multilateral development assistance / Non-renewable energy production / Renewable energy production
ADB / Asian Development Bank (ADB) / Cheam Yeap / Chinese aid / Chinese hydropower investments / coal-fired power plants / CPP lawmaker / EdC / Electricite du Cambodge / energy project / Hydrolancang International Energy Co Ltd / Hydropower dams / IMF / International Monetary Fund / Kamchay dam / Kampot / Kith Meng / Koh Kong / Lower Sesan 2 dam / National Assembly / Northumbria University / power project / Preah Sihanouk Province / private firms / Pursat / Royal Group / Southeast Asia / Stung Atai / Stung Tatai / Stung Treng Province / The U.K.

A CPP lawmaker said yesterday the government has signed 13 payment guarantees to companies constructing coal-fired power plants and hydropower dams in the country, a move that an Asian Development Bank (ADB) official reiterated was risky for the country’s fiscal future. CPP lawmaker Cheam Yeap said the most recent payment guarantee approved by the National Assembly last Friday on the $781 million Lower Sesan 2 dam project in Stung Treng province is typical when any major company makes an investment in an energy project. … “It is the government’s obligation to do a guaranteed payment for investment companies whenever Electricite du Cambodge [EdC] [might] miss a payment or don’t pay the bill,” Mr. Yeap said. …

http://www.cambodiadaily.com/news/government-has-13-payment-guarantees-for-energy-projects-11377/