Electricity of Vietnam Group (EVN) has secured a credit agreement with Vietnam Development Bank for handling the resettlement of local people who gave land to the Lai Chau hydropower plant.

The 4.6 trillion VND credit, signed in Hanoi on May 19, will also be used for the manufacture of machinery in service of the Lai Chau power plant, which is located in the northern province of the same name.

Construction of the Lai Chau hydropower plant, estimated to cost 37.5 trillion VND, started in January this year.

Once completed in 2017 as planned, it will have three turbines with a total capacity of 1.200 MW./.