Attending the Ceremony were the representatives from the ministries and branches of Vietnam and Laos: Mr. Buontheung Phenthayvongsa – Chief of Administration Office of Lao Ministry of Energy and Mines, Mr. Humpheng Soulalay – Director of Department of Investment Promotion, Mr. Luong Quoc Huy - Envoy at the Vietnamese Embassy in Laos, Mr. Doan Tho Nam –Economic Counsellor of Vietnamese Embassy in Laos, Mr. Le Van Ton – Deputy General Director of Song Da Holdings, and  many Vietnamese businessmen investing in Laos and press/television correspondents.

At the Ceremony, Mr. Nguyen Thang Long, General Director of VLPC and Mr. Khammany Inthirath, Managing Director of EDL signed the Shareholders Agreement for establishment of Xekaman 1 Power Company Limited (XKPC1), according to which XKPC1 headquartered at Viet-Lao Power Building, Vientiane Capital has been contributed 100% of chartered capital (115,000,000 USD) by VLPC with the main target of investment in construction of Xekaman 1 hydropower plant to sell electricity to Laos and Vietnam.

Xekaman 1 Hydropower Project has been constructed on Xekaman river in the area of Sanxay and Sayxetha district, Attapeu province, Lao PDR, which is about 40 km away from border gate Bo Y (Vietnam) – Phu Cua (Laos) as the crow flies. On March 17, 2006, VLPC and the representative of the Government of Laos signed Memorandum of Understanding of the Project, and then, on March 30, 2008, the Project Development Agreement was signed by the two parties.

The Project has the investment capital of USD 441 million, the total design capacity of 322 MW including two powerhouses: Xekaman1 Hydropower Project and the lower scheme of the Xekaman1 Hydropower Project (informally known as Xekaman 0 or Xekaman Sanxay).  

Xekaman1 Hydropower Powerhouse has the design capacity of 290MW, including 02 Units, each of which 145MW; the time of construction is 5 years; the annual energy output is 1,096.56 million kWh.

Xekaman SanXay Hydropower Powerhouse has the design capacity of 32MW, including 02 Units, each of which 16MW; the time of construction is 3 years; the annual energy output is 131.2 million kWh.

According to the schedule, both powerhouses Xekaman 1 and Xekaman Xansay will be  inaugurated in 2013 and will supply about 1.22 billion KWh/year, 20% of which will be sold to Laos and the remaining will be exported to Vietnam.

After the Signing Ceremony of Shareholders Agreement, the first general meeting of shareholders and the first meeting of XKPC1’s Board of Directors (BOD) were held and the following main contents were agreed and approved:

- Passage and conclusion of the Articles of Association of XKPC1.

- Appointment of the following members to the BOD of XKPC1:

Mr. Thai Son                                - Chairman

Mr. Nguyen Thang Long             - Member

Mr. Nguyen Xuan Hien               - Member and CEO

Mr. Dinh Xuan Hoang                 - Member

Mr. Do Xuan Binh                       - Member

Mr. BounOum SYVANPHENG  - Member

Ms Vanida SAVADDY                - Member

- Appointment of the following members to the Board of Supervision of XKPC1:

Mr. Truong Quang Huyen           - Head

Ms Duong Thi Ngoc Chien          - Member

Mr. Phakdy DINDAVONG         - Member

On the recommendation of Shareholder VLPC, the XKPC1’s BOD unanimously appointed Mr. Tran The Anh to the position of Chief Accountant of the Company.

The signing of Shareholders Agreement for establishment of XKPC1 was an important landmark during the investment process of the Project. In the spirit of positive cooperation, VLPC and the Government of Laos have been trying to finalize some last schedules to come to execute the Concession Agreement, Power Purchase Agreement in the soonest time.