KUALA LUMPUR: Mega First Corp Bhd (MFCB) has announced today that its hydropower plant in Laos has started commercial operation on Oct 1.
The company, in a filing with Bursa Malaysia today, said 80%-owned indirect subsidiary Don Sahong Power Company Ltd (DSPC), has on Nov 4 received a certificate from the Ministry of Energy and Mines of Laos confirming that the commercial operational date (COD).
"The concession period shall end on the date occurring twenty-five (25) years after the COD, which is on Sept 30, 2045," it said.
"In accordance with the Concession Agreement dated Sept 15, 2015, DSPC will be exempted from income tax until the fifth anniversary of the COD," it added.
The Don Sahong project is a 260MW run-of-river hydropower plant on the Mekong River in southern Laos.
The project was completed in the last quarter of 2019.
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