Company withdraws from Lao dam project

8 September 2003

Electricité de France (EDF) withdrew from the Nam Theun 2 project in Laos in mid-July citing strategic reasons and the political climate. In response, another major shareholder, the Electricity Generating Authority of Thailand said it would give the Nam Theun developers a year to move the project forward otherwise other projects would be substituted. The World Bank had not yet decided whether to provide financial backing for the project. “The Bank is considering the implications this development has for NT2 and related work in Lao PDR.”