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Home  >>   Daily News  >>   Laos  News  >>   Trade  >>   India gives Laos $72.55 million credit line
NEWS UPDATES 11 September 2010

India gives Laos $72.55 million credit line

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Giving a further boost to its relations with Asean countries, India on Friday announced a line of credit worth $72.55 million to Laos for undertaking hyrdoelectric projects, pushing its total investments in this country to $162 million.

The two countries also renewed a three-year cultural exchange programme from 2011-13 which will facilitate closer cooperation in the field of education, health, culture and art, youth affairs and sports, and mass media.

President Pratibha Patil, who is here on a visit, told her Laos counterpart Choummaly Sayasone that India will grant a line of credit worth $72.55 million for two projects.

"Laos had requested on February 1, 2010 for a line of credit of $72.55 million for two hydro-electric projects. In today's talks, the President announced the line of credit," Vijaya Latha Reddy, secretary (East) in the ministry of external affairs, told reporters, after the meeting.

The line of credit is for 230 KV double circuit transmission line from Nabong to Thabok and sub-stations worth $34.68 and 15 MW Nam Boun 2 hydro project worth $37.86 million, Indian officials said.

Indian Ambassador to Laos Jitendra Nath Misra said India's investment in the country - including those already spent and the ones pledged - have reached $162 million after the $72.55 million line of credit announced today.

Laos has requested another line of credit worth $30 million for development of irrigation projects in four provinces and this is under process, sources said.

Patil and her counterpart Sayasone commissioned the Paksong-Jiangxai-Bangyo transmission line project worth $18 million at the Ho Kham Palace in Laos.

"India gave a line of credit of $33 million in 2008 for development of three projects. Angelique International is the implementing agency and WAPCOS is the project management consultant for them. On the Laos side, it is Electricity Commission of Laos," Reddy said.

Patil and Sayasone held a one-on-one meeting which was followed by a meeting of senior officials of the two countries.

Reddy said Laos was a good investment destination for India, especially in the field of power transmission and irrigation projects.

India at present extends 94 per cent duty-free tariff to Lao and plans to make it 100 percent in the near future.


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ASEAN INDICES
September 1, 2010
Market
Indices
Change

IDX

3,120.02
38.14
KLCI 
1,426.56 4.07
PSEi*      3,566.23 7.56
SGX 7.50
-0.02
SET 918.76
5.57
Source : Relevant bourses
Note   : 
*     31 August 2010
CURRENCY EXCHANGE
September 1,2010
Currency US$
Euro
Singapore $ 

1.32 1.68
Thai Baht *  
  31.44

39.90

Malaysia Ringgit   
  3.13
3.98
Indonesia Rupiah   
  9,079.00
11,513.99
Philippines Peso   
  45.31

57.46

Source:Relevant central banks
Note   : *
  31 August 2010
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   Asean Tourism Contacts
 
   

BRUNEI
Tourism Development Division
Ministry of Industry and Primary Resources
Jln. Menteri Besar, Bandar Seri Begawan, Brunei Darussalam
Tel. (673-2) 382822 Fax. (673-2) 382824
Email: bruneitourism@brunet.bn
Website: http://www.bruneitourism.travel/

CAMBODIA
Ministry of Tourism
3, Preah Monivong Blvd, Phnom Penh, Cambodia
Tel. (855-23) 213911 Fax. (855-23) 426107/217503
Email: dgpro@camnet.com.kh
Website: http://www.tourismcambodia.com/

INDONESIA
Ministry of Culture and Tourism
Jl. Medan Merdeka Barat 17, Jakarta 10110, Indonesia
Tel. (62-21)3838157 Fax. (62-21) 3849715
Website:
http://www.budpar.go.id
http://www.my-indonesia.info

LAOS
National Tourism Authority of Lao P.D.R.
Lane Xang Avenue, P.O. Box 3556, Vientiane, Lao P.D.R.
Tel. (856-21) 212248 Fax. (856-21) 212769/2127910
Website: http://www.tourismlaos.gov.la/

MALAYSIA
Ministry of Tourism
Menara Dato' Onn
Putra World Trade Center, 50480, Kuala Lumpur, Malaysia
Tel. (603) 2693 5188 Fax. (603) 269 0207/2693 0884
Email: tourism@tourism.gov.my
Website: http://www.tourism.gov.my

MYANMAR
Ministry of Hotels and Tourism
No. 77-91, Sule Pagoda Road, Yangon, Myanmar
Tel. (95-1) 285689 Fax. (95-1) 289588/254417
Email: dht.mht@myanmar.com.mm / mtt.mht@mptmail.net.mm
Website:
http://www.myanmar-tourism.com/
http://www.hotel-tourism.gov.mm
http://www.myanmar.com/Ministry/Hotel-Tour
http://www.myanmars.net/mtt
http://www.myanmartourismboard.com/

PHILIPPINES
Department of Tourism
DOT Building, T.M. Kalaw Street, Agrifina Circle, Rizal Park
Manila 10004, Philippines
Tel. (632) 523 8411 Fax. (632) 521 7374
Email: deptour@info.com.ph
Website: http://www.wowphilippines.com.ph/

SINGAPORE
Singapore Tourism Board
Tourism Court, 1 Orchard Spring Lane, Singapore 247729
Tel. (65) 736 6622 Fax. (65) 736 9423
Email: stb_sog@stb.gov.sg
Website: http://www.visitsingapore.com/

THAILAND
Tourism Authority of Thailand
1600 New Phetchaburi Road
Makkasan, Ratchathewi, Bangkok 10400, Thailand
Tel. (662) 250 5500 begin_of_the_skype_highlighting              (662) 250 5500      end_of_the_skype_highlighting Fax. (662) 253 7437
Email: center@tat.or.th
Website: http://www.tourismthailand.org

VIETNAM
Vietnam National Administration of Tourism
80 Quan Su Street, Hanoi, Viet Nam
Tel. (84-4) 822 8744 Fax. (84-4) 942 4115
Email: binhvnat@hn.vnn.vn
Website: http://www.vietnamtourism.com

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