Mega First Completes Project Financing of USD150 Million for Don Sahong Hydro Power Project in Laos

Published: Oct 10 2017
Deal Summary

Mega First Corporation Bhd (MFCB), owner and operator of power generation plants, has completed the project financing of USD150 million for the construction and development of Don Sahong hydro power project situated in Laos. The total installed capacity of the plant will be 260 MW. The total cost of the project is expected to be USD500 million. The investment per MW will be USD1.9 million.

Mega First Investments (L) Ltd, an arm of MFCB, has entered into facility agreements with various financial institutions for conventional term-loan facilities of USD85 million and an Islamic financing scheme of up to USD65 million. The conventional loan is up to six years with repayment starting January 2020 or a mutually agreed later date. Of the total USD150 million, the projects are financed partly. The power generated by the plant will be sold to Electricite du Laos (EDL) under a power purchase agreement.

The Power project is expected to achieve commercial operations in 2019.

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