Locals, environmentalists oppose dam construction in Himachal Pradesh

Sirmaur (Himachal Pradesh), Apr 28 (ANI): Locals and environmentalists have objected to the construction of proposed Renuka Dam in Himachal Pradesh”s Sirmaur District, fearing severe ecological damage.

“The construction of Renuka Dam will result in the relocation of almost 1500 families, though government figures put the number to be somewhere around 850. 140,000 trees will be cut to build this dam. No objection certificate (NOC) for this has yet been obtained by the dam management,” said Deepak Joshi, an environmentalist.

The villagers are demanding a proper re-habilitation policy from the state government.

They said compensation being offered to them was insufficient.

“The villagers want good compensation for the land being acquired by the government. We should also get good land at the place where we will, be relocated. Residential colonies should be constructed for us, so that our children are safe in future,” said Mahesh Kumar, a representative of the villagers, who are likely to be dislocated.

Himachal Pradesh Chief Minister Prem Kumar Dhumal has assured the demands will be looked into.

“For the first time, a comprehensive policy has been made for the relocation of the displaced people. They are being given good compensation, for their relocation we have made elaborate arrangements, they will be given land in place of the land they are losing,” said Dhumal.

“They will be rehabilitated in a proper manner. We have also made sure that the displaced people get 100 units of free electricity every month,” he added.

The dam is coming up in the Giri River valley region, and will produce 40 megawatts of hydropower.

It is being built by the Himachal Pradesh Power Corporation. (ANI)

China says dams not to blame for low Mekong levels

HUA HIN, Thailand, April 5 (Reuters) – China on Monday denied that its dams were reducing water levels on the Mekong River and blamed problems along the river on unusually dry weather, but it also offered to share more data with its neighbours.

Leaders of Thailand, Cambodia, Vietnam and Laos, badly hit by the Mekong’s biggest drop in water levels in decades, met in the Thai coastal town of Hua Hin to discuss management of Southeast Asia’s longest waterway. Some 65 million people depend on the river.

China sent vice foreign minister Song Tao to rebut criticism of the eight hydropower dams it has built or is building in its south.

“Statistics show the recent drought that hit the whole river basin is attributable to the extreme dry weather, and the water level decline of the Mekong River has nothing to do with the hydropower development,” Song said in an official statement after the meeting.

The Mekong originates in the Tibetan plateau and flows 4,800 km (2,980 miles) through rice-rich areas of Myanmar, Thailand, Laos and Cambodia before emptying into the South China Sea off Vietnam.

Song said southwestern China was suffering its worst drought in decades. Beijing says the drought has left about 18 million people and 11 million animals with insufficient drinking water and affects 4.3 million hectares (10.6 million acres) of crops.

Activists and environmentalists say China has not provided relevant data to assess the impact of the dams on water flows.

But Song said it had given rainy season data since 2003 and dry-season data from two hydrological stations since March in response to requests from its four downstream neighbours through the intergovernmental Mekong River Commission (MRC).

Environmental organisations in the lower Mekong basin, particularly in Thailand, have long accused China of a lack of transparency in water management policies.

In particular, they are demanding more detailed data from Xiaowan hydroelectric dam on the upper reaches of the Mekong. Xiaowan, China’s second-largest hydroelectric station, began storing water in its reservoir last October.

Government officials in the four Mekong countries are more guarded in their comments, mindful of trade and investment flows. Thai Prime Minister Abhisit Vejjajiva told reporters the dialogue with China had been positive, commending the powerful northern neighbour for cooperation and for providing data.

“The heart of effective management of the water is information sharing. I am optimistic it will become more systematic and more consistent. It will allow for more effective management of the river as well as building of trust,” he said.

ONE STEP FORWARD

Activists said giving data was a step in the right direction.

“We need more and we need effective management of available data. But simply breaking that silence is progress for us after years of very little information on what’s going on upstream,” said Pianporn Deetes, spokeswoman for the Save the Mekong Coalition, an alliance of environmental groups.

But Pianporn said the water level problem could not be put down simply to drought and more cooperation was needed.

“If the dams don’t contribute to the loss of water level, China should publicly release information on water level flows that goes back several decades, not just the latest.”

Song said China had responded to the concerns of downstream countries, even at the expense of some hydropower projects.

To prevent any impact on fish migration, Beijing cancelled one hydroelectric plant, the Mengsong, on the upper reaches, Song said, and it was planning to build a counter-regulation reservoir to prevent abnormal downstream fluctuations in water level. (Editing by Alan Raybould and Ron Popeski)

Ethiopia denies huge dam will leave 200,000 hungry

* Government says experts have surveyed area

* Group says dam will disrupt fishing and farming

By Barry Malone

ADDIS ABABA, April 2 (Reuters) – Ethiopia rejected allegations that building one of Africa’s biggest hydropower dams would leave 200,000 self-sufficient people reliant on aid.

Rights group Survival International (SI) said last week the dam would disrupt fishing and farming for tribal people, among them the Kwegu and Hamar tribes, and a group of charities have launched an online petition against the dam.

“We have made an extensive survey,” government spokesman Shimeles Kemal said late on Thursday.

“Highly renowned, independent experts have assured that the construction of the dam in no way causes concern for people living around there,” he said. He did not name the experts involved in the survey.

An SI researcher who did not want to be named told Reuters last week the dam would ruin the economy of those living near it.

“It will end the annual flooding some rely on to make the land they farm fertile, and for tribes who rely on fishing, it will deplete stocks. They will need aid.”

Shimeles said the project had the backing of neighbouring Kenya, despite SI claims its construction could threaten the livelihoods of 300,000 people there.

The dam is being built on the Omo river, the main source for Kenya’s Lake Turkana.

“Various concerned bodies, including the Kenyan parliament, have endorsed the Ethiopian government’s plans and have openly criticised the position pursued by these NGOs to prevent the construction of the Gibe III dam,” Shimeles said.

Salini Costruttori, the Italian firm building the dam, this week also dismissed the accusations of rights groups saying the project would not cause drought or block the flow of water to the river, but merely redistribute it during the year.

Ethiopia is building the 1.4 billion euro ($1.9 billion) dam as part of a campaign to beat chronic power shortages and become a power exporter.

The dam is expected to generate 1,800 MW, almost doubling the country’s current capacity of just under 2,000 MW.

The Horn of Africa nation is negotiating further funding for Gibe III, whose construction began in 2006, with the World Bank, the African Development Bank, the European Investment Bank and the Italian government. (Editing by Helen Nyambura-Mwaura and Myra MacDonald)

Farmers protest against Hydro Power Project in Himachal

Rampur (HP), Sept 18 (ANI): Hundreds of residents and farmers here protested against the construction of run-of-river hydropower plant project on the river Satluj.

The campaigners called for Save Satluj drive and complained that the hydropower plant would disturb the ecological balance of the region.

“Our protest is to save our environment and our natural resources. They are being affected by the project. Because of this, the Sutlaj river will dry up, water mammals will die and the temperature of the region will also rise,” said Mohan Singh, a farmer.

Environmentalists believe that the 412MW Rampur hydropower project is not suitable to the fragile ecology of the region.

“The project will divert this river through the tunnel leaving the river bed dry which will disturb the ecological balance. This will not only affect the course of river but will also harm the crop grown in the area,” said Jai Chand, head of the Village Committee for Environment Protection.

The activists were protesting against the Rampur hydropower project authorities and the district administration.

The campaigners later staged a sit-in-protest outside the office of Sub-Divisional Magistrate demanding his intervention into the matter.

Rampur Hydropower Project will provide renewable and low carbon energy to the country’s over-stretched Northern Electricity Grid. (ANI)

Nepal, India review bilateral ties

New Delhi, Aug 20 (ANI): Visiting Nepal Prime Minister Madhav Kumar Nepal met Prime Minister Dr. Manmohan Singh at Hyderabad House last evening.

Both leaders discussed and reviewed progress in bilateral relations between the two countries.

According to official sources, the intensification of economic partnership between the two countries remained the focus of the discussions. Investment in the hydro power sector was also considered.

The issue of using Nepal’s territory for anti-India activities is also believed to have come up duirng the talks.

The meeting, lasted for about an hour, and was attended by External Affairs Minister S. M. Krishna, Home Minister P. Chidambaram, Finance Minister Pranab Mukherjee and National Security Advisor MK Narayanan.

Later, Prime Minister Singh hosted a banquet in honour of Nepal Prime Minister.

Earlier, the Nepalese Prime Minister invited Indian industry to invest in his country, saying his government would give due priority to such moves.

He assured them of providing a conducive atmosphere for industrial growth.

Candidly admitting to the state of political flux in his country earlier this year, he said he would make sure that the investment from India is given due priority.

He identified hydropower, roads, bridges, and infrastructure, construction, and tourism, agro-processing and financial services as potential areas for investment.

Nepal arrived in New Delhi on Tuesday at the head of a 64-member delegation, including the Finance, Tourism, Commerce, Industry and Energy Ministers. He will leave for Kathmandu on Saturday. (ANI)

China’s carbon emissions may peak around 2030

New Delhi, August 18 (ANI): A panel of experts have determined that China’s carbon emissions output could peak around 2030 if the government continues to be serious about “strengthened measures” to improve energy efficiency and if it accelerates exploration of renewable energy.

According to the panel from the National Development and Reform Commission and the Development Research Center of the State Council, with the right policies, emissions growth could slow after 2020, with a peak around 2030.

This is the first time a Chinese think-tank has officially announced when it thinks China’s carbon emissions will peak.

The international community has closely watched the country’s carbon emissions curve because China and the US are the top two carbon emissions countries in the world.

The panel has advised China to invest significantly in low-carbon technology research and development, saying the strategy of developing such technology is “a stone killing two birds”.

“Only by using advanced low-carbon technologies can China’s greenhouse gas emissions peak around 2030; otherwise, the peak will be delayed and we don’t want to see the latter scenario,” said Jiang Kejun, a leading economist of the panel.

If the peak happens around 2030, the huge investment in low-carbon technologies could keep China’s economy growing at a fast pace and make China a global leader in cutting-edge technologies.

“I think China will become a major supplier of nuclear, wind and hydropower technologies and electricity transmission by 2030,” said Jiang. “And that should be a strategic goal for the Chinese government to pursue,” he added.

If China can achieve these goals, by 2050, its carbon emissions from fossil fuel “could fall to the same emissions levels as in 2005 or even lower”, the report said.

Jiang said that the Chinese government has been “on the right track” in making policy decisions to develop low-carbon technologies as new economic growth engines while countries worldwide are working on a plan by October to replace the Kyoto Protocol, which is set to expire in 2012. (ANI)

India, Bhutan agree to fast-track implementation of hydropower projects

New Delhi, July 3 (ANI): India and Bhutan will hold a meeting of the Empowered Joint Group to fast-track implementation of hydropower projects next month.

The first meeting of this group was held in New Delhi in March 2009 after the signing of the Protocol to the 2006 Agreement on Cooperation in Hydropower.

During his recent visit to India, Bhutan Prime Minister Thinley held extensive talks with his Indian counterpart Prime Minister Dr. Manmohan Singh in this regard.

Both sides expressed satisfaction over the progress made in the hydropower sector and reiterated their commitment to achieve the target of 10,000 MW of hydroelectric generation in Bhutan by 2020.

They exchanged views on various facets of Indo-Bhutan relations and measures to further enhance the relationship.

Bhutan Prime Minister conveyed deep appreciation to Dr. Manmohan Singh and other Indian leaders for their contribution to Indo-Bhutan relations.

Thinley, who was on an official visit to India from June 28 to July 3, expressed the gratitude of his Government and people of Bhutan for India’s unwavering assistance and cooperation in Bhutan’s development.

He also apprised Dr. Singh of Bhutan’s preparations for hosting the 16th SAARC Summit in Thimphu in April 2010. (ANI)

India begins providing river outflow data to Pak

Lahore, June 30 (ANI): As part of an annual practice, India has started providing Pakistan with data on the outflow of the Ravi, Sutlej, Beas and Chenab rivers from today.

After the Indus Basin Treaty, 1960, the Indian Indus water commissioner’s office provides the river outflow data on an annual basis, the Daily Times reports.

Under the treaty, Pakistan is entitled to the use of the waters of western rivers, Chenab, Indus and Jhelum, while India has rights over the water of eastern rivers, Ravi, Sutlej and Beas.

Earlier, Pakistan’s Indus Water Commissioner Syed Jamaat Ali Shah had said that there had not been any violation of the agreement on the Ranbir and Partap Canals on India’s part.

He also rejected reports that Pakistan was going to the International Court of Justice on the Kishanganga Dam project.

Pakistan has been opposing the construction of the Kishanganga hydropower project on Ganga River in Kashmir, which is called Neelum upon entering Pakistan.

Pakistan believes that the diversion of waters of Neelum is not allowed under the 1960 Indus Waters Treaty, and it will face a 27 per cent water deficit, when the project gets completed.

The reduced water flow in the Neelum would not yield the required results of the proposed 1.6 billion dollars Neelum-Jhelum hydropower project that has been designed to generate 969 MW of electricity.

It has said that India has almost completed a 22-kilometre long tunnel to divert Kishanganga waters to Wullar Lake in Jammu and Kashmir. (ANI)

Stone crusher spells menace for Himachal farmers

Sangla (Himachal Pradesh), May 21 (ANI): Stone crusher being operated by a private hydropower Construction Company in Sangla valley of Himachal Pradesh is spelling menace for the farmers as the dust from the crusher is damaging plants and fruit crops.

The farmers have complained to the authorities a number of times but to no avail.he farmers believe that the establishment of the crusher has seriously affected the flowering and hence the production of crops due to pollution.

“The Jaypee Company established a crusher and a mixing plant here. There is a lot of harmful dust that comes from these plants. This is effecting the flowering of the trees and the production of crops has been seriously effected,” said Bhisham Singh, a farmer.

Environmentalists believe that the pollution from the crusher is damaging not just the crops but also the environment of the place in general.

“It seems the project is spoiling the total environmental condition of this northern part. There are highly potential horticulture activities going on here like production of apple, apricots and others. This project is increasing the pollution and spoiling the total environmental condition,” said an environmentalist, R.Murthy.

The farmers believe that the stone crushers being operated here are not following the norms set by the mining and environment department. By Hemant Chauhan (ANI)

China increases aid to Nepal by 50% ahead of Prachanda visit

Shirish B Pradhan Kathmandu, Apr 19 (PTI) Ahead of Prime Minister Prachanda’s second visit to Beijing, China has jacked up its annual aid package to Nepal by a whopping 50 per cent to develop infrastructure of the land-locked Himalayan nation. Chinese government has announced an additional package of USD 7.31 million to Nepal, increasing its annual financial assistance to the Himalayan nation to USD 21.94 million.

“China would provide assistance in science and technology, tourism, water resources, infrastructure development and agriculture if Nepal made progress in the peace process,” Nepalese Foreign Minister Upendra Yadav, who returned from China yesterday, told reporters about the additional aid. “Beijing is positive about increasing investment in Nepal’s hydropower sector,” he added.

Prachanda is likely to visit China, the next month. The minister also said that China has responded positively to Nepal’s request for providing duty-free access to 497 Nepalese exportable items so as to help the country to reduce its trade deficit.

“China has also shown interest in developing Rampur Agriculture College of Chitawan district in central Nepal into an agriculture university,” Yadav said. Meanwhile, a high level team of CPN-UML led by the party’s chairman Jhalanath Khanal yesterday left for Beijing on a week-long visit at the invitation of Chinese Communist Party.

PTI.

12 workers killed in dam collapse in India

New Delhi – At least 12 workers were washed away when a dam that was under construction collapsed in India’s north-eastern state of Sikkim, a news report said Friday.

The Rang Po dam collapsed Thursday night in eastern Sikkim and efforts were being made to retrieve the bodies from a tunnel downstream, police officials told the PTI news agency.

The small dam was being built by a private company for storing water for hydropower generation at a project nearby.

According to the officials, the dam suddenly burst because of a surge in the water level of the Rongli River caused by heavy rainfall over the past few days.

Police were investigating amid allegations that substandard materials might have been used in the dam’s construction.(dpa)

Indians in Nepal can’t be bothered to vote

Kathmandu, April 17 (IANS) They think nothing of hopping across the border to India to attend a wedding, obtain medical treatment or attend business conferences.

But tens of thousands of Indians living in Nepal can’t be bothered to make the journey home to cast their votes.

This year, as India embarked on a nearly month-long parliamentary polls from Thursday, there was a strong campaign in that country to get the inert voter to the polling booth.

However, the campaign has not trickled down to India’s northern neighbour Nepal; nor has a succession of Indian governments taken any steps to ensure Indians living in Nepal are able to cast their votes in the Himalayan republic itself.

Shiva Raj Singh Raghav, immediate past president of the Indian Citizens’ Association (ICA) in Nepal, estimates that there are about 300,000-400,000 Indians and people of Indian origin living in Nepal as long-term residents.

The 50-year-old, a hardware wholesaler from Uttar Pradesh, has himself been residing in Nepal for the last 25 years.

‘The ICA had petitioned the Indian Embassy in Kathmandu, asking for the government to enable the Indians registered with the embassy to cast their votes in Nepal,’ Raghav told IANS. ‘But the embassy expressed its inability to do so.’

In addition to the long-term Indian residents, Raghav estimates there are several thousands of Indians who come and go across the open border.

Indians living in Nepal include businessmen, professionals working for Indian organisations or joint ventures like banks, telecom and hydropower companies, embassy staffers, army personnel and teachers.

Prem Lashkari, founding president of the Nepal-India Friendship Society, says one reason for the inertia is that businessmen, whether they live in Nepal or India, prefer to stay away from politics.

His friend West Bengal lad Praksh Dugar, who owns a construction business in Nepal, is a prime example.

‘The last time I voted in my home constituency Murshidabad was eight years ago,’ says Dugar, who is now planning to return to his village Nabogram and take the plunge in politics. ‘I vote if I am home during the elections. But I have never gone home just to vote.’

Lashkari, a jeweller who has been living in Nepal since 1971, thinks the young generation could be different.

‘Now more and more young people are becoming active,’ he says. ‘They realise that businessmen too should have representatives in the government. We failed to press for postal votes or even a voting booth in Nepal. Maybe they would take up the issue one day.’

The Indian community in Nepal boasts of big names like Vikram Singh Deo, the former ruler of a principality in Rajasthan whose daughter Himani, wedded to Nepal’s former flamboyant crown prince Paras, was the crown princess of Nepal; Shalini and Rakesh Wadhwa, who head Nepal’s billion-rupee chain of casinos; and R. Saraf, who owns two of Kathmandu’s most elegant hotels, the Yak and Yeti and Hyatt.

Last year, the US government made arrangements so that Americans in Nepal could take part in their presidential elections.

India key to Nepali hydropower ambition – Prachanda

SOLBERGFOSS, Norway – Nepal aims to boost its hydropower generation capacity more than 15-fold in 10 years, and the government is working to gain access to the vast Indian market for electricity exports, its premier said on Tuesday.

The Himalayan nation’s goal is to build 10,000 megawatts of hydropower plants by 2020, from around 630 MW now, as part of the ruling Maoists’ pledge to create a “new Nepal.”

“We are trying to go ahead with this huge target,” Prime Minister Prachanda told reporters on the dam of the Solbergfoss hydroelectric plant on the River Glomma in Norway.

“We have huge hydropower potential, and India is a huge market,” the premier, who goes by his guerrilla name Prachanda, told Reuters on a two-day Norway visit. “We are in discussions and are trying to develop a unified understanding with India.”

Nepal, among the world’s poorest nations, will need to import technology from industrial nations like Norway and secure international financing to pursue its goal.

It hopes exporting power will bring revenues to help fund the hydropower ambition, but cross-border cables to energy-hungry India are lacking.

“If they (India) commit to buying power from us, we could be like Norway,” Manoj Bahadur Shrestha, chairman of Himalayan Bank, told Reuters, referring to Norway’s power exporter role.

Mountainous Norway, with many waterfalls and rivers, is the world’s fifth biggest hydropower producer. Hydroelectricity helped transform Norway from one of Europe’s poorest countries at the end of the 19th century into one of the richest.

A drought in Nepal has hit supplies, forcing power cuts of up to 18 hours a day and heaping pressure on Prachanda’s coalition government to fix the problem.

“People have huge difficulties in their lives,” said Prachanda, the former Maoist guerrilla who won a surprise election victory in April last year.

NORWAY COMPANY EAGER

Preliminary plans have been drawn up for about 2,000 MW of new capacity in several projects, including the government’s 456 MW Upper Tamakoshi project and the 600 MW Tamakoshi 2/3, which is under feasibility studies by Norwegian firm SN Power.

SN Power, which invests in hydropower plants in Asia and Latin America, is the main partner in the 60 MW Khimiti plant east of Kathmandu. It and its parent company Statkraft have been developing hydropower in Nepal since 1993.

“Nepal is part of our growth strategy,” SN Power’s Chief Executive Oistein Andresen told Prachanda and accompanying Nepali officials in a presentation at company headquarters in Oslo.

“It would be very important to have power lines between India and Nepal,” he said.

Nadia Sood, SN Power’s Executive Vice President for South Asia, said: “Until those go up, there will be less incentive for developers of large hydropower projects.”

SP Power got a survey licence this month for Tamakoshi 2/3, so it can proceed with more studies for the $1.5 billion investment. If all goes well, it would aim to put financing in place in 2011 and start building in 2011 or 2012, Sood said.

More permits, including a generation licence and export licence, will be needed, and the company also wants reassurance that the regulatory framework works and smoothes bureaucracy.

“Without an export licence and without the transmission lines, (international financiers) will be reluctant,” Sood said.

Pakistan seeks to resolve water issue with India through bilateral dialogues

Islamabad, Mar.21 (ANI): Pakistan has said that it is ready to resolve the water sharing issue with India through bilateral talks.

Indus Water Commission head Jamaat Ali Shah said Islamabad wants to hold talks with New Delhi over the issue in accordance with the 1960 Indus Water Treaty.

Shah said that various issues such as the Baglihar Dam, Wullar Barrage, and the Kishanganga Hydropower Project should be discussed between both countries immediately, as these issues have been pending for long and affecting irrigation work on both sides of the border

He also stressed that there is a need for evolving a policy on water management.

“All stakeholders should be taken on board for evolving the policy for water management to get water needed for irrigation and other purposes,” The Daily Times quoted Shah, as saying. (ANI)

WAPCOS should become more competitive: Professor Soz

New Delhi, Feb 19 (ANI): Professor Saifuddin Soz, the Union Minister for Water Resources has said that the Water and Power Consultancy Services (WAPCOS) Ltd. should become more competitive. It balances its commercial and social obligations in an appreciable manner.

Addressing the Consultative Committee meeting of the Ministry of Water Resources on the subject “Activities of WAPCOS’ here today, he said that it keeps consultancy rate at reasonable levels to allow various organizations and departments access to outstanding consultancy services within their limited budgets.

“It has maintained strong financial performance and consistent profitability and have been conferred the status of ‘Mini Ratna’ by the Government in view of its exemplary performance,” he added.

Lauding the achievements of WAPCOS, Prof. Soz said that during the last five years, the company made sustained progress in turnover and business development.

“Turnover of the company has increased from Rs.41.22 crore in 2002-03 to Rs.160.05 crore in 2007-08 showing an increase of 288 per cent, while business secured has increased from Rs.63.10 crore to Rs.251 crore in the same period showing an increase of 298 per cent,” he said.

“Performance of the company has been rated excellent continuously for the last five years based on the MoU signed with the Ministry. Based on this excellent performance, the company has been upgraded from Scheduled ‘C’ to Scheduled ‘B’,” he added.

The Minister further said the members that over the years it has been providing excellent consultancy services for prestigious hydropower projects in Bhutan like Tala Hydro electric Project, and Chukha Hydro electric Project.

It is implementing the Salma Dam Project in Afghanistan, on turn key basis, from the concept to its completion. It has recently secured prestigious projects in Cambodia in the fields of Water Resources and Transmission Lines. Its status, as an internationally recognized consultancy organization is beneficial to its prosperous future in the years to come.

Attention was focused on the construction of water resources and power projects in India immediately after independence.

The Government of India established Water and Power Consultancy Services (India) Ltd., which was subsequently renamed as WAPCOS Ltd.

Origin of WAPCOS dates back to 1968. Incorporated on June 26, 1969 under the Companies Act 1956, under the Administrative Control of Ministry of Water Resources, WAPCOS have been providing Consultancy Services in all facets of Water Resources, Power and Infrastructure Sectors in India and abroad. (ANI)

Lao power plant plans to list on Thai bourse

Bangkok – Southeast Asia Energy Ltd, a Thai-owned hydropower project in Laos, is preparing to list on the Stock Exchange of Thailand later this year, media reports said Monday.

Ch Karnchang, a Thai construction firm that owns the plant, is seeking a financial adviser for helping with the listing, which would become the first such cross-border listing of a company from Indochina on the Thai bourse, The Nation newspaper reported.

The company needs funding to complete the Nam Ngum II hydropower plant. The plant on the Nam Ngum River, a major tributary of the Mekong, is to generate 615 megawatts of electricity to be sold to Thailand.

The Bangkok bourse has a target to attract at least 40 firms from Indochina – Cambodia, Laos and Vietnam.

Cambodia and Laos are in the process of setting up their own stock markets. Vietnam already has one. (dpa)