China and Laos in legal tussle over hydropower project

Quick Summary:

A Chinese state-owned company is suing the national power utility of Laos for $555 million in unpaid fees from a hydropower project, according to an arbitration filing reviewed by Reuters.

Laos has struggled with hyperinflation and fast-depleting foreign exchange reserves ever since the pandemic, with the value of the kip plunging nearly three-fifths over the last five years.

In its filing last month with the Singapore International Arbitration Centre, PowerChina said that EdL owed it $486.3 million in dues plus interest estimated at $65.8 million.

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Article Details

Category: EconomyBusiness

Markets: ThailandChinaLaosSingapore

Topics: Million Case Capacity Filing Arbitration Project Power River Laos China Hydropower

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-05 @ 20:35:00 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 520 words

Reading Time: 3 minutes read

Sentences: 22 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 26680219

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