Japanese banks finance Vietnamese power plant
Eleven Japanese banks, including
Mitsui Sumitomo Banking Corp and Japan Bank for International
Cooperation (JBIC), will provide a 81 billion JPY (680 million USD) loan
for the Electricity of Vietnam (EVN) to build a thermal power plant.
Eleven Japanese banks, including
Mitsui Sumitomo Banking Corp and Japan Bank for International
Cooperation (JBIC), will provide a 81 billion JPY (680 million USD) loan
for the Electricity of Vietnam (EVN) to build a thermal power plant.
Accordingly, JBIC will supply the majority of the loan with more than 400 million USD while 8 regional banks will lend a combined 100 million USD.
The EVN will use the funds to purchase power-generating equipment from Japan’s Hitachi Company.
Vietnam’s economic growth is driving electricity demand, making power shortages an urgent concern.
In order to create a favourable environment to attract more foreign investment, the Vietnamese government is hastening the construction of power plants.-VNA
Accordingly, JBIC will supply the majority of the loan with more than 400 million USD while 8 regional banks will lend a combined 100 million USD.
The EVN will use the funds to purchase power-generating equipment from Japan’s Hitachi Company.
Vietnam’s economic growth is driving electricity demand, making power shortages an urgent concern.
In order to create a favourable environment to attract more foreign investment, the Vietnamese government is hastening the construction of power plants.-VNA
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