Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Investment

Chinese, Lao firms sign shareholders' pact for grid joint venture

September 03, 2020


Abstract : Lao state-owned Electricite du Laos (EDL) and China Southern Power Grid (CSG) have signed the Shareholders' Agreement of Electricite du Laos Transmission Company Limited (EDLT) in Lao capital Vientiane for jointly establishing the EDLT.

VIENTIANE, Sept. 2 (Xinhua) -- Lao state-owned Electricite du Laos (EDL) and China Southern Power Grid (CSG) have signed the Shareholders' Agreement of Electricite du Laos Transmission Company Limited (EDLT) in Lao capital Vientiane for jointly establishing the EDLT.

The signing of the agreement on Tuesday marks a significant progress in enhancing win-win cooperation between Laos and China in the power industry, CSG officials told Xinhua on Wednesday.

Founding EDLT is an important step in building the China-Laos community with a shared future, and is also the latest achievement of the third Lancang-Mekong Cooperation leaders' meeting held in late August, according to the CSG.

Khammany Inthirath, Lao minister for energy and mines, said that the EDLT, a key project in the industrialization process in Laos, will help provide self-sufficient and stable power supply to support the country's development, as well as reinforce the infrastructure connectivity with neighboring countries.

The Lao minister believed that with CSG's advantages in experience, technology and human resources, the EDLT will bring a fresh outlook to the Lao power industry.

Jiang Zaidong, the Chinese ambassador to Laos, said during the signing ceremony that the founding of the EDLT takes the first step to implement the important consensus reached on the third Lancang-Mekong Cooperation leaders' meeting, which calls for strengthening the power connectivity in Lancang-Mekong countries.

He said the two companies should enhance cooperation to serve the national strategies of Laos, to improve Lao people's livelihoods, and to achieve mutual benefit and win-win results.

The Chinese ambassador also highlighted the importance to follow market principles and make its operating mechanisms market-based for the high-level development of the EDLT.

According to the Shareholders' Agreement, the EDLT will operate under the regulation of the Lao government, taking advantage of CSG's financial strength and mature experiences in power grid construction, operation and management to move forward the construction of the national backbone power grids in Laos.

The EDLT will provide power transmission service to the EDL with safety, reliability, efficiency, accessibility and sustainability.

The EDLT will enable Laos to strengthen power grid connectivity with its neighboring countries for transforming its water resource into economic benefits, so as to support Laos' effort to build itself as the "battery of clean energy" in Southeast Asia. Enditem

Scan the QR code and push it to your mobile phone

Keyword: China-Laos Lancang-Mekong Cooperation

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial