Vietnamese group inks $120-M loan for thermal plants

The Electricity Group of Vietnam closed a loan deal for its new thermal-power plant projects.

The Vietnam Development Bank will grant VND2.5 trillion or US$120.19 million for EVN to invest on the Vinh Tan 2 and Duyen Hai 1 thermal-power plants.

Earlier in February 2012, VDB and EVN also inked a loan deal of VND5 trillion. The total loan the state-run power monopoly borrowed for the two plants has thus amounted to VND7.5 trillion, or $360.58 million.

The Vinh Tan 2 plant, located in Binh Thuan, and Duyen Hai 1, in Tra Vinh, have a combined capacity of 2,400 MW, requiring a total investment of VND52.7 trillion.

Power projects account for 39 percent of the total outstanding loans of VDB, 45.6 percent of which are invested by EVN.

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