Electricite de France (EDF) announced it has withdrawn its stake in a
project to build Indochina’s biggest dam in southern Laos. In a
statement issued on its Web site, EDF said the withdrawal of its 35 per
cent stake, the largest share, in the project’s developer – the Nam
Theun 2 Power Co. Ltd. consortium – was in line with EDF’s strategy to
consolidate its assets and to prioritize its business focus on Europe.
After consulting with its strategic committee and representatives of
the French government, EDF decided not to sign an agreement between the
consortium and the state-run Electricity Generating Authority of
Thailand (EGAT). EDF confirmed it would assist its former consortium
partners until December 31, 2003 to find a replacement. En Francais (PDF) [PIver here]