ADB to Lend Vietnam US$903M More for Mong Duong 1 Power Plant
The State Bank of Vietnam (SBV), the country’s central bank, is negotiating with the Asian Development Bank (ADB) to borrow the second credit package worth US$903 million for the 1,000-MW Mong Duong 1 power plant.
An agreement on the first credit package valued at US$28 million for the coal-fired plant was signed between Governor Nguyen Van Giau of the SBV and the ADB Country Director to Vietnam Ayumi Konishi on October 9, 2007.
The plant is part of the 2,000-MW Mong Duong thermal power center in the northern coal hub province of Quang Ninh.
The state-run Electricity of Vietnam Group (EVN) is preparing to start building the plant within this year.
Vietnam is among six countries which receive US$1 billion a year from ADB to develop green energy sources. (SBV)
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