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Vietinbank backs EVN thermo-power plant

Update: December, 01/2012 - 09:26

HA NOI (VNS)— Vietinbank, one of the leading commercial banks in Viet Nam, will provide finance to Electricity of Viet Nam (EVN) for construction of the Duyen Hai No.3 thermo-power plant project.

A credit agreement was completed between the two parties in Ha Noi on Thursday, stipulating that the VND6.2 trillion (US$291 million) loan will be repaid over 120-months, with a 48-month grace period.

The loan will be used to pay for 15 per cent of the Duyen Hai project's total value in advance, implemented under an Engineering, Procurement and Construction (EPC) agreement.

Located in southern Tra Vinh province, the 1,200 megawatt Duyen Hai No.3 coal-fired power plant is expected to connect to the national grid by 2015.-VNS

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