Industrial and Commercial Bank of China (ICBC) has worked with Tan Tao Group (ITA) on its possible lending of $2 billion for the latter’s 1,200-MW Kien Luong 1 coal-fired power plant in Vietnam’s Mekong Delta province of Kien Giang. The plant, along with the 1,200-MW Kien Luong 2 and the 2,000-MW Kien Luong 3 plants, is part of the $6.7-billion Kien Luong thermal power center that will be built on a 550.4-hectare area in Kien Luong district within this year, said Dang Thi Hoang Yen, ITA chairman. Tan Tao, the plant’s investor, will import 100% coal to feed the facility, Yen added.
Once turbine 1 of the plant operational in the fourth quarter of 2013 and turbine 2 in the second quarter of 2014, the two-turbine plant is expected to generate between 8.1 billion and 8.64 billion a year.
