Three China Banks to Lend $143M to Vietnam Thermal Power Project

Three Chinese banks, comprising of China Eximbank, Bank of Communications and China Construction Bank, will provide a loan of $143 million to Vietnamese investor to develop the $168-million An Khanh 1 thermal power plant in the northern province of Thai Nguyen. The loan agreement was signed yesterday [Dec 22] between the investor An Khanh Thermal Power JSC and the loan’s arranger People’s Bank of China, the state-run Vietnam News Agency said. The 100-MW plant is under construction in Dai Tu district, state media reported Friday. The facility is slated for completion on turbine 1 in Sept 2012 and on turbine 2 by the end of the second quarter of 2012 to connect 800 million kWh of electricity per year to the national grid from the third quarter of 2013. (Kinh te Vietnam & the gioi –Vietnam & World Economy Dec 23, ndhmoney.vn Dec 22)