Tycoon strikes Thai hydro dam deal

[geovalin]

Tycoon Ly Yong Phat has struck a deal with Thailand’s state-owned electricity company to build a small-scale hydroelectric dam on the border of Koh Kong and Pursat provinces. The $100 million Stung Nam dam venture will bring together Mr Yong Phat’s LYP Group with the Electricity Generating Authority of Thailand.

Mr Yong Phat told Khmer Times his company had been negotiating the deal for some time and would open the project for tender soon. “The hydroelectric dam is a joint-venture with our Thai counterparts in a move to build closer relations with our neighbours. The project should begin in the next two or three months because we have already done the environmental impact assessment. We are just awaiting the final approval from government,” he said.
 

Mr Yong Phat said the dam will be able to generate more than 30 megawatts and the power would be sold to Thailand.  “We will sell the energy back to Thailand. The dam is very close to Thailand and it would be very expensive to invest in a transmission line to use it locally. It will only generate a small amount of power, so the joint-investment is more about enhancing the relationship between our two countries,” he said.

 

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