Nine Vietnamese companies have joined hands to open the Vietnam-Laos Power Joint-Stock Company (VLPC), slated to raise hydroelectric plants in Laos.
VLPC, inaugurated July 28 in Hanoi, includes big players like the Song Da Corporation, Petro Vietnam and BIDV (Bank for Investment and Development of Vietnam).
VLPC, with a charter capital of VND5,300 billion (nearly US$328 million), will build the hydroelectric plants in Laos under a power cooperation program between the two nations governments.
Nguyen Thang Long, general director of VLPC, said that by 2010, the company would invest in plants in Laos worth $2.8 billion.
Electricity produced from these plants would be provided to the two nations power systems.
