CH. Karnchang Keeps $1.6B Hydro Contract In-House

Law360, New York (April 17, 2012, 3:39 PM EDT) -- Thai construction company CH. Karnchang PCL has given one of its subsidiaries the $1.63 billion construction contract for a hydroelectric power plant in Laos, the company said Tuesday, in a controversial project that has drawn criticism from the U.S. Senate, China and Laotian environmentalists.

CH. Karnchang Co., a Laos-based subsidiary, will build the 1,280-megawatt Xayaburi power plant, in which CH. Karnchang has a 30 percent ownership stake. The value of the contract is 51.8 billion Thai baht ($1.63 billion) plus $711 million, the company said in...
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