Four banks sign deal to finance Vinh Tan 4 thermoelectric plant

Friday, 2017-09-22 10:30:09
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At the signing ceremony (Photo: VNA)
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NDO/VNA – Four commercial banks signed a deal in Hanoi, on September 21, in which they agreed to provide VND5,400 billion (US$23.75 million) in credit for the expanded Vinh Tan 4 thermoelectric project.

According to EVN, An Binh Bank acted as coordinator to arrange the financial package with the Vietnam Bank for Agriculture and Rural Development, the Tien Phong Bank, the Lien Viet Post Bank and the Ho Chi Minh City Housing Development Bank.

Under the credit contract, the loan will have a term of 15 years (180 months), with a grace period of 60 months.

The project, invested in by the Electricity of Vietnam (EVN) group, is one of the five thermoelectric plants in the Vinh Tan power complex in the south central province of Binh Thuan.

It has total investment of VND23.9 trillion (over US$1.1 billion), and is listed among the most urgent projects during 2013-2020.

The plant has one turbine with a capacity of 600 MW. When becoming operational in 2019, it will supply around 3.9 billion kWh of electricity to the national grid.