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$200 million in counterpart funding for thermo power plant

Released at: 08:46, 22/04/2015

$200 million in counterpart funding for thermo power plant

Vietinbank, BIDV, Vietcombank and EVN decide to grant credit to Duyen Hai 3 project.

by Hoang Huong

Electricity of Vietnam (EVN) organized a signing ceremony on April 20 in Hanoi for contracts and domestic trade credit contracts worth VND4.5 trillion ($200 million) from three banks as counterpart funding for the Duyen Hai 3 Thermoelectricity Power Plant project.

Speaking at the signing ceremony, General Director of Vietinbank, Mr. Le Duc Tho, said that Vietinbank worked closely with BIDV, Vietcombank and EVN to appraise relevant matters and decide on granting credit to the project.

Part of the Duyen Hai Thermal Power Plant in the Mekong Delta province of Tra Vinh, this third plant can generate around 3.9 billion kWh annually and has a harbor consisting of wharves to receive coal and oil and a dredging section.

It is a major project approved by the Prime Minister, expected to supply power to the south of Vietnam by 2018.

General Director of EVN, Mr. Duong Quang Thanh, said that the funding would help the project be put into operation on schedule and resolve power shortages in the south and promote economic development in the Mekong Delta.

After construction of the plant is completed finished the increase in the amount of thermo-electricity produced compared with hydro power will resolve power shortages during the dry season and ensure safe supply to the national power grid.

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