Vietnam to build its first nuclear power plant

Guess which country agreed to lend as much as $9b for the project?

Bloomberg revealed that Russia agreed to lend money to Vietnam to deepen economic ties and the lending period will be about 28 years.

In the report, Phan Minh Tuan, head of state-run Vietnam Electricity’s nuclear energy development Vietnam, said “The total loan value will be between $8 billion and $9 billion, depending on prices of materials at the time we start construction.”

Vietnam said last year it plans to build as many as 13 nuclear power stations with a capacity totaling 16,000 megawatts over the next two decades, according to Bloomberg.

View the full report here.