Under the memorandum of understanding signed in Vientiane, the capital of Laos, South Korea will provide US$70 million in loans for the power plant project, which will be located along the Mekong River, the ministry said.

It said the loan will be offered under Korea's Economic Development Cooperation Fund (EDCF) aimed at helping less-developed nations through low interest loans.

SK E&C Co., a South Korean builder, and Korea Western Power Co. are joining the project, with the former to be in charge of designing and construction, and the latter to take up operation and maintenance.

This is the first large joint public-private partnership project for developing countries in which the Seoul government joins through EDCF loans along with Korean companies, the ministry in charge of the country's economic policies said.

It said the hydroelectric power plant, if completed, will supply electricity to more than 400,000 households every year. A total of $1 billion will be invested in the construction of the facility. (Yonhap) NT

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