PetroVietnam secures credit for Vung Ang plant
The Vietnam National Oil and Gas Group (PetroVietnam) landed an
agreement with five international banks on a 904 million USD loan for
its Vung Ang 1 thermopower plant at a ceremony in Hanoi on April 22.
The Vietnam National Oil and Gas Group (PetroVietnam) landed an
agreement with five international banks on a 904 million USD loan for
its Vung Ang 1 thermopower plant at a ceremony in Hanoi on April 22.
The banks are the Hong Kong-Shanghai Banking Corporation (HSBC), the China Development Bank (CDB), the Bank of Tokyo-Mitsubishi UFJ (B TMU), Credit Suisse and Intesa SanPaolo.
Through export credit agencies (ECA), the loan will be insured by the China Export and Credit Insurance Corporation and Hermes Bank (Germany).
HSBC Vietnam General Director Thomas Tobin said these banks could possibly come up with other loans for PetroVietnam-invested thermopower plants, such as Long Phu 1, Thai Binh 2 and Quang Trach 2.
The Vung Ang 1 thermopower plant in the central province of Ha Tinh has a total investment capital of almost 1.6 billion USD, of which an EPC contract worth 1.17 billion USD has been signed with Vietnam Machine Installation Corporation (Lilama).
The first turbine of the 1200 MW Vung Ang plant is scheduled to be put into commercial operation in July, 2012 and the second in February, 2013, adding a total of 6.64 billion kWh to the national grid./.
The banks are the Hong Kong-Shanghai Banking Corporation (HSBC), the China Development Bank (CDB), the Bank of Tokyo-Mitsubishi UFJ (B TMU), Credit Suisse and Intesa SanPaolo.
Through export credit agencies (ECA), the loan will be insured by the China Export and Credit Insurance Corporation and Hermes Bank (Germany).
HSBC Vietnam General Director Thomas Tobin said these banks could possibly come up with other loans for PetroVietnam-invested thermopower plants, such as Long Phu 1, Thai Binh 2 and Quang Trach 2.
The Vung Ang 1 thermopower plant in the central province of Ha Tinh has a total investment capital of almost 1.6 billion USD, of which an EPC contract worth 1.17 billion USD has been signed with Vietnam Machine Installation Corporation (Lilama).
The first turbine of the 1200 MW Vung Ang plant is scheduled to be put into commercial operation in July, 2012 and the second in February, 2013, adding a total of 6.64 billion kWh to the national grid./.
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