Electricity of Vietnam (EVN) has signed capital contribution contractsand credit agreements worth 4.5 trillion VND (225 billion USD) withseveral banks for the expanded Duyen Hai 3 thermo-power project.
The banks include the Vietnam Bank for Industry and Trade (Vietinbank),Vietnam Bank for Foreign Trade (Vietcombank) and Bank for Investmentand Development of Vietnam (BIDV).
Addressing the signingceremony in Hanoi on April 20, Chairman of the EVN Member BoardDuong Quang Thanh said the capital will help ensure project progress,which is critical to ease power shortages in the southern region.
Meanwhile, the project is expected to boost socio-economic developmentin the Mekong Delta region by resolving electricity shortages during thedry season, he added.
Vietinbank General Director Le DucTho said the EVN continually receives assistance from large commercialbanks that are responsible for working with economic groups andenterprises to forge rapid and sustainable growth.
According to the EVN, the capital will be used to pay for EPC(engineering-procurement-construction) contracts for the expanded DuyenHai 3 project.
Total investment for the project is 22.77trillion VND (roughly 1.82 billion USD), 85 percent of which are fromcommercial loans. The project, approved by the Prime Minister onDecember 11, 2013, is crucial in supplying power for the southern regionby 2018.
Located in Duyen Hai district in Tra Vinhprovince, Duyen Hai 3 is one of four thermo-power projects run by theDuyen Hai Power Centre with a total capacity of 4,348 megawatts. It isexpected to generate 3.9 billion kilowatt hours per year.-VNA
The banks include the Vietnam Bank for Industry and Trade (Vietinbank),Vietnam Bank for Foreign Trade (Vietcombank) and Bank for Investmentand Development of Vietnam (BIDV).
Addressing the signingceremony in Hanoi on April 20, Chairman of the EVN Member BoardDuong Quang Thanh said the capital will help ensure project progress,which is critical to ease power shortages in the southern region.
Meanwhile, the project is expected to boost socio-economic developmentin the Mekong Delta region by resolving electricity shortages during thedry season, he added.
Vietinbank General Director Le DucTho said the EVN continually receives assistance from large commercialbanks that are responsible for working with economic groups andenterprises to forge rapid and sustainable growth.
According to the EVN, the capital will be used to pay for EPC(engineering-procurement-construction) contracts for the expanded DuyenHai 3 project.
Total investment for the project is 22.77trillion VND (roughly 1.82 billion USD), 85 percent of which are fromcommercial loans. The project, approved by the Prime Minister onDecember 11, 2013, is crucial in supplying power for the southern regionby 2018.
Located in Duyen Hai district in Tra Vinhprovince, Duyen Hai 3 is one of four thermo-power projects run by theDuyen Hai Power Centre with a total capacity of 4,348 megawatts. It isexpected to generate 3.9 billion kilowatt hours per year.-VNA
