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VDB provides more financing for EVN

The Vietnam Development Bank (VDB) and Vietnam Electricity (EVN) reached an agreement on a major loan on January 7th in Hanoi

Accordingly VDB will provide credit of VND 2,500 billion for EVN to implement two power projects, namely Vinh Tan 2 Thermo-Power Plant and Duyen Hai 1 Thermo-Power Plant.

The two power projects will have total generation capacity of 2,400 MW, and cost VND 52,722 billion.

According to EVN, the two projects, which lie within the power development programme of the National Power Development Master Plan in the 2006-2015 period, will supply power for the South power system and the National Power Grid.

Earlier on February 24th, 2012, VDB and EVN signed another credit contract worth VND 5,000 billion to back the two power projects. Thus, VDB has provided VND 7,500 billion for the two projects, so far.

As of December 31, 2012, VDB provided VND 36,902 billion in credit for 80 EVN power generation and power grid projects, including major power projects, such as Son La Hydropower Plant, Lai Chau Hydropower Plant and Huoi Quang Hydropower Plant.

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