Franco-Japanese firms in Vietnam power deal
A consortium of French and Japanese
companies ,led by Electricite de France, have
signed agreements to build a $400m power
plant in Vietnam.
The deal is one of the biggest ever foreign
investments in the country.
The companies received a licence to build and
operate a power plant in the southern Ba
Ria-Vung Tau province that will take gas from
Vietnam's offshore Nam Con Son field.
The deal includes a government guarantee
protecting the companies' rights to repatriate
their profits and a World Bank political risk
guarantee.
The World Bank country director, Andrew
Steer, was quoted by the Reuter news agency
as saying the plant would supply electricity to
more than one-million families and create tens
of thousands of jobs.
BBC World Service - September 19, 2001.
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