ID :
141914
Mon, 09/13/2010 - 22:59
Auther :
Shortlink :
https://oananews.org//node/141914
The shortlink copeid
India signs USD 72.55 million line of credit with Laos
PRESIDENT-MOU
Rakesh Mohan Chaturvedi
Vientiane (Laos), Sep 13 (PTI) India today signed a USD
72.55 million line of credit agreement with Laos for
hydropower projects as part of New Delhi's efforts to step up
its presence in this ASEAN country.
The agreement for the line of credit, which was finalised
earlier during President Pratibha Patil's 5-day state visit,
was signed by EXIM Bank executive director Prabhakar Dalal on
behalf of India and Minister of Finance of Laos, Somdy
Douangly after a India-Laos Business Forum meeting here.
The line of credit is for 230 KV double circuit
transmission line from Nabong to Thabok and sub-stations worth
USD 34.68 USD, and 15 MW Nam Boun 2 hydro project worth USD
37.86 million, Indian officials had said.
Some Letters of Intent and MOUs were also signed by
Indian Chamber of Commerce in Laos with CII, FICCI and
ASSOCHAM.
A 45-member strong delegation of CII, FICCI and ASSOCHAM
members was here to attend the India-Laos Business Forum
meeting.
During her address to the India-Laos Business Forum,
President Patil said, "I can assure that India will continue
to be a development partner of Laos."
She appreciated the efforts being made by Laos to move
out of the Least Developed Country category by 2020.
"We have been following the encouraging progress made by
Laos. The average GDP growth of Laos in the last five years
has been 7.8 per cent," she said.
Laos has potential for foreign investment in mining,
hydropower, construction, roads, railways as well as in
agriculture, but has remained largely unexplored by Indian
business houses.
"Laos is open to foreign investment and, I understand
that a series of business laws have been enacted in Laos to
simplify investment procedures and regulations. I think that
there is insufficient knowledge in India of this change in
Laos, and I call upon this Forum to address this issue so that
Lao and Indian businessmen understand each other better,"
Patil said. PTI RC RET
MRD
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Rakesh Mohan Chaturvedi
Vientiane (Laos), Sep 13 (PTI) India today signed a USD
72.55 million line of credit agreement with Laos for
hydropower projects as part of New Delhi's efforts to step up
its presence in this ASEAN country.
The agreement for the line of credit, which was finalised
earlier during President Pratibha Patil's 5-day state visit,
was signed by EXIM Bank executive director Prabhakar Dalal on
behalf of India and Minister of Finance of Laos, Somdy
Douangly after a India-Laos Business Forum meeting here.
The line of credit is for 230 KV double circuit
transmission line from Nabong to Thabok and sub-stations worth
USD 34.68 USD, and 15 MW Nam Boun 2 hydro project worth USD
37.86 million, Indian officials had said.
Some Letters of Intent and MOUs were also signed by
Indian Chamber of Commerce in Laos with CII, FICCI and
ASSOCHAM.
A 45-member strong delegation of CII, FICCI and ASSOCHAM
members was here to attend the India-Laos Business Forum
meeting.
During her address to the India-Laos Business Forum,
President Patil said, "I can assure that India will continue
to be a development partner of Laos."
She appreciated the efforts being made by Laos to move
out of the Least Developed Country category by 2020.
"We have been following the encouraging progress made by
Laos. The average GDP growth of Laos in the last five years
has been 7.8 per cent," she said.
Laos has potential for foreign investment in mining,
hydropower, construction, roads, railways as well as in
agriculture, but has remained largely unexplored by Indian
business houses.
"Laos is open to foreign investment and, I understand
that a series of business laws have been enacted in Laos to
simplify investment procedures and regulations. I think that
there is insufficient knowledge in India of this change in
Laos, and I call upon this Forum to address this issue so that
Lao and Indian businessmen understand each other better,"
Patil said. PTI RC RET
MRD
The information contained in this electronic message and any attachments to this
message are intended for the exclusive use of the addressee(s) and may contain
proprietary, confidential or privileged information. If you are not the intended
recipient, you should not disseminate, distribute or copy this e-mail. Please notify
the sender immediately and destroy all copies of this message and any attachments
contained in it.
