In recognition of outstanding achievement and success in the project finance concluded in 2005 for the Nam Theun 2 Hydropower project in Lao PDR, Lao Holding State Enterprise (LHSE) received a “pfi Awards 2005” in the category of Asia Pacific Power Deal of the Year from PROJECT FINANCE INTERNATIONAL. The “pfi Annual Awards 2005” Ceremony was held on 25 January 2006 in London, United Kingdom. This prestigious PFI Award is firmly established as the ultimate symbol of excellence in project finance, recognized worldwide. The LHSE is very proud of “pfi Awards 2005” it received. At the same time, Nam Theun 2 Power Company Ltd (NTPC) had received 6 Awards:
(1) “ASiAMoney Awards 2005” for Best Project Finance Deal,
(2) “pfi Awards 2005” for Asia Pacific Power Deal of the Year,
(3) “FinanceAsia.com” for Best Project Finance Deal,
(4) “*TRIPLE A* ASSET ASIAN AWARDS 2005” for Best Project Finance,
(5) “ProjectFinance the global authority for the project finance market” for Asia Pacific Power Deal of the Year; and
(6) “Best Deal of 2005” for Best Deal of 2005 from Global Trade Review (GTR).
The Nam Theun 2 Hydro Power Project’s Financial Close had concluded the Nam Theun 2 Project Company’s financing. It is the single largest project ever developed in Lao PDR. The total mobilized amount is 1450 million USD, while the project cost is 1250 million USD. The unprecedented success of this project financing had enabled also the LHSE, as Lao Government’s shareholder, to invest in the Nam Theun 2 Project. The LHSE will continue to meet its obligations as a shareholder and also look forwards to sharing benefits of being an investor in this endeavor. The above Awards presented to LHSE and NTPC are outstanding pride to Government of Lao PDR and LHSE as well. This achievement demonstrates Government commitment to working in partnership with private sector and engaging positively with international financial community. It is strongly believed that the great success of financing of Nam Theun 2 has significantly improved image and credit standing of Lao PDR in front of international financial institutions and international lenders.