2:14:46 PM | 8/7/2010
Vietnam International Commercial JS Bank (VIB) signed a contract with Haiphong Thermal Power JSC to lend VND100 million (US$5.237 million) to the 600-MW Hai Phong 1 power plant.
As a result, VIB will provide the one-year loan for the purchases of accessories for the Hai Phong 1 power plant so as to speed up construction of the plant in the northern port city of Haiphong.
The Hai Phong 1 plant, along with the 600-MW Hai Phong 2 power plant, is under the Hai Phong thermal power project and is expected to generate 3.6 billion kWh of power per year.
Recently, experts said a large number of sluggish power projects in Vietnam, particularly coal-fired ones, is mainly blamed for the current power shortage nationwide.
Construction of the 600-MW Hai Phong 1 power plant was started in November but is nearly 20 months behind schedule while the 600-MW Quang Ninh 1 power plant is 14 months behind schedule, Former Chairman of the Vietnam Energy Institute, Dr. Nguyen Manh Hien said.
Hien noted that if these plants were operational on schedule, nearly 30 million kWh of power would be added to the national power supply, which could help avoid the current power shortage. (VNA)
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