$70 from India for power

3 September 2012
The Phnom Penh Post
Banking and financial services / Economy and commerce / Energy / Generation and distribution facilities / Hydropower dams / Investment / Renewable energy production / Trade
ADB / Asian Development Bank (ADB) / Chamber of Commerce in Cambodia / direct investment / electric transmission line / Electricity / foreign loans / hydroelectric projects / hydroelectricity / ICC / Indian aid / Indian investment / Indian investors / Laos / Ministry of Commerce / soft loan

India is financing the construction of a US$70 million transmission line to bring electricity from hydroelectric projects in Laos to Cambodia, according to Indian Chamber of Commerce President Debasish Pattnaik. Speaking yesterday after the official launch of the Indian Chamber of Commerce in Cambodia (ICC), Pattnaik said Laos has signed an agreement with the Asian Development Bank (ADB) to finance the transmission lines from Laos to Stueng Trang and the $70 million soft loan from the Indian government would finance the line from Stueng Trang to Kratie. ... Pan Sorasak, Secretary of State for Ministry of Commerce, said trade between Cambodia and India was starting to grow stronger. “I hope we start to do more direct work because now we are working to process many works together to promote direct investment.” ...

http://www.phnompenhpost.com/index.php/2012090358436/Business/70m-from-india-for-power.html