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Last updated: Friday, October 20, 2017

 

EVN Gets VND5.4-Trillion Syndicated Loan for Vinh Tan 4 Expansion Power Project

Posted: Friday, September 22, 2017

Loan signing ceremony. Photo: ABBank
Loan signing ceremony. Photo: ABBank

Vietnam’s state-run electricity company EVN has signed an agreement for a syndicated loan of VND5.4 trillion ($240 million) to fund a project to build a coal-fired power plant in central Vietnam, the government said Friday.

The 15-year loan is for the Vinh Tan 4 Expansion power project in Binh Thuan province, the government said in a statement, adding that the loan has a grace period of five years. The lenders include AB Bank, Lien Viet Post Bank, TP Bank, HD Bank and Agribank.

The Vinh Tan 4 Expansion project, with total investment of $1.104 billion, has a turbine with a generation capacity of 600 megawatts and an estimated annual output of 3.9 billion kilowatts hour, according to the statement.

The turbine is scheduled to become operational from late 2019 and will be connected to the national power grid, supplying electricity to the south-central area and ensuring national energy, the government said.

Vinh Tan 4 Expansion is part of the Vinh Tan Power Center that includes five power plants 250 kilometers north of Ho Chi Minh City, the country’s economic hub.

VTK








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