On 28 May 2024, at the Khammuan Provincial Office, Nam Theun 2 Power Company handed over its 2023 Corporate Income Tax on the energy production of 2023 valued at USD 15,179,362 USD to the Government of Laos. Additionally, the company handed over an advance payment of its corporate income tax for the first quarter of 2024 valued at 3,880,145 USD, as financial support amidst the country’s current economic challenges.
Representing the Government of Laos, H.E. Mr. Vanhxay Phongsavanh, Khammuan Governor received the handover made by the Chief Executive Officer of Nam Theun 2 Power Company Limited, Mr Marc-Antoine Rupp. Also present at the ceremony where Khammuan’s Department of Finance and Department of Energy and Mines.
On this occasion, Mr Marc-Antoine expressed that this handover ceremony was the first of its kind between Khammuan Province and Nam Theun 2. Over the company’s 25-year concession agreement period (from 2010 to 2035), it is expected that Nam Theun 2 will provide approximately 2 billion USD to the Government of Laos, under the form corporate income tax, royalties, and dividends to its Lao shareholder. The tax, duties and royalties regime under which Nam Theun 2 is bound to aims to progressively increase the revenues to the Government of Laos, as the company becomes relieved of its loans.
Revenues collected by the Government of Laos from Nam Theun 2 will support the Government’s efforts to further develop the country, with electricity representing over 20% of the country’s total exports.
Nam Theun 2 Power Company Limited is the company formed by the Lao Government and the private shareholders in the Nam Theun 2 Hydroelectric Project to build and operate the Project for the first 25 years of its operation. Nam Theun 2 is dedicated to running a world class hydropower facility and to improving the living conditions of people in the areas around the Project. Its mission is to generate electricity in a reliable and sustainable manner, contribute to the development of Lao PDR; and be a reference for the hydro industry.
