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Credit contract sealed for restructuring of Dak Drinh hydro power plant

A credit contract to provide 95 million USD for the restructuring of Dak Drinh hydro power plant was signed in Hanoi on December 14.
Credit contract sealed for restructuring of Dak Drinh hydro power plant ảnh 1At the signing ceremony. (Photo: VNA)

Hanoi (VNA) – A credit contract to provide 95million USD for the restructuring of Dak Drinh hydro power plant was signed inHanoi on December 14.

Signatories were PV Power DHC that operates theplant, the Asian Infrastructure Investment Bank (AIIB) and French bank Natixis.

The Dak Drinh plant located in Quang Ngai and Kon Tumprovinces in central Vietnam is a key project of PetroVietnam Power Corporation (PV Power) with an installedcapacity of 125 MW, and a major project in the national powerdevelopment plan for the 2011-20 period, with vision to 2030.

An AIIB representative said the new credit with a preferential interest rate will help cut production costs and enable investment in upgrading the plant's equipment, thus improving its efficiency and profit.

PV Power, a subsidiary of the Vietnam Oil and Gas Group(PetroVietnam), is the second largest electricity supplier of Vietnam after theVietnam Electricity (EVN).

The company is running six affiliates and power plants witha combined installed capacity of 4,205 MW, generating about 21 billion kWh peryear and making up 12 percent of the market share./.

VNA
#credit contract #Dak Drinh hydro power plant #PV Power DHC #PV Power #electricity supplier #vietnamplus #vietnam news agency
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