Business

EVN signs loan agreement with Big Four banks for LNG power project

The project has a capacity of 1,500 MW, consisting of two units of 750 MW each. The plant is being built at Hon La Economic Zone, Phu Trach commune, Quang Tri province.

At the signing ceremony for the loan agreement between EVN and Vietcombank, VietinBank, BIDV and Agribank (Photo: VNA)
At the signing ceremony for the loan agreement between EVN and Vietcombank, VietinBank, BIDV and Agribank (Photo: VNA)


Hanoi (VNA) - Vietnam Electricity (EVN) has signed the loan agreement for Sub-project 1 of the LNG Quang Trach II Power Plant project with four major banks, with the total value amounting to 29.57 trillion VND (1.14 billion USD).

The consortium of the banks comprises Vietcombank, VietinBank, BIDV and Agribank.

The project has a capacity of 1,500 MW, consisting of two units of 750 MW each. The plant is being built at Hon La Economic Zone, Phu Trach commune, Quang Tri province.

It is invested by EVN, with a total investment of more than 52.49 trillion VND, of which 20% is equity and 80% commercial loans.

The project is divided into two subprojects. Subproject 1 – the power plant – has a total investment of 40.1 trillion VND, while Subproject 2 comprises the LNG storage facility and port, with an estimated investment of about 11.8 trillion VND.

Subproject 1 involves the construction of a 1,500 MW power plant, including combined-cycle gas turbine units and synchronised auxiliary systems such as water supply and treatment systems, wastewater treatment, electrical systems, and measurement and control systems.

EVN Chairman Dang Hoang An said that Vietnam’s power sector currently ranked second in Southeast Asia and 20th globally in terms of scale.

With the goal of achieving double-digit economic growth, investment demand for the power sector from now to 2030 was expected to increase sharply, he said. /.

VNA
#EVN #LNG Quang Trach II Power Plant #Quang Tri #Big Four Banks
Follow VietnamPlus

Green transition

Related News

Nhon Trach 3 and 4 thermal power plants – Vietnam’s first LNG project

Nhon Trach 3 and 4 thermal power plants – Vietnam’s first LNG project

The Nhon Trach 3 and 4 power thermal plants, invested by Petrovietnam Power Corporation, have a total investment of around 1.4 billion USD. With a combined capacity of 1,624 MW, the plants are expected to supply over 9 billion kWh annually once fully operational, adding substantial baseload power to the system, particularly in the southern region.

See more

Participants at a conference on digital assets in Hanoi on December 10. (Photo: VNA)

Finance ministry seeks public feedback on minimal tax on digital assets

Under the draft, the transfer and trading of crypto assets would not be subject to value-added tax. Individual investors, regardless of residency status, would be required to pay personal income tax at a rate of 0.1% on the gross value of each transfer. This approach mirrors the current tax method applied to securities transactions.

Steel products of Hoa Phat Group. (Photo: VNA)

Vietnam aims to meet 80–85% of domestic steel demand by 2030

Vietnam aims to meet 80–85% of domestic steel demand by 2030. Crude steel production is targeted at 25–26 million tonnes per year, with annual growth of 7–8%, while finished steel output is expected to reach 32–33 million tonnes per year, growing by 5.5–6.5% annually. Per capita steel consumption is projected at 270–280 kg per year.

One of the products granted Halal certification in 2026. (Photo: moit.gov.vn)

Spring Fair 2026 boosts momentum for Vietnam’s Halal sector

The fair’s greatest value for Halal products lies less in immediate revenue than in building trust and standardising business practices. In a market where certification determines entry, it highlights that expansion must begin with fundamentals, standards, raw materials, production processes and readiness.

Prime Minister Pham Minh Chinh speaks at the fifth meeting of the Steering Committee for Nuclear Power Plant Construction. (Photo: VNA)

PM calls for more vigorous implementation of nuclear power projects

Describing nuclear power plants as nationally significant, strategic projects with a century-long vision, PM Chinh called for urgent and responsible implementation of tasks within assigned authority, with any outstanding issues promptly reported to higher authorities.

Vehicles transporting import and export goods at Bac Luan II Bridge border gate. (Photo: VNA)

Building smart border gates to enhance competitiveness, drive growth

With plans to build the Mong Cai–Ha Long–Hai Phong railway alongside the smart border gate and economic cooperation zone, Quang Ninh is positioning itself as a new growth pole in northern Vietnam and a key gateway for economic cooperation between Vietnam, ASEAN and China.

Noi Bai International Airport is expected to receive a record number of passengers (Photo: VNA)

Noi Bai, Tan Son Nhat airports expect record passenger volumes during Tet

Information from Noi Bai International Airport showed that during the peak Tet period, passenger traffic is forecast to reach a record high, posting double-digit growth year on year. Specifically, in the seven days before Tet (February 10–16), Noi Bai is expected to serve more than 725,000 passengers, up 16% from the same period in 2025, with 4,467 flights, an increase of 12.5%.

The booth of Lang Son province brings about distinctive local products to the fair, and also implemented various promotional programmes to stimulate consumer demand (Photo: VNA)

Spring Fair 2026 spreads cultural values, boost trade

From handwoven brocade textiles to traditional ethnic costumes, the fair presents vivid cultural colours and highlights how local producers are introducing heritage products to the modern market, expanding consumer reach, building brands, and strengthening trade links.

Hanoi markets come alive as Tet 2026 approaching (Photo: nhandan.vn)

Hanoi markets come alive as Tet 2026 approaching

A recent survey shows flower prices have seen only slight fluctuations this year thanks to favourable weather conditions. Peach blossoms are priced from 200,000 VND to several million VND, depending on size and shape.

Ho Chi Minh City’s public spending rose in 2025 but fell short of the amount it had targeted (Photo: dangcongsan.vn)

Ho Chi Minh City to tackle public spending bottlenecks

By the end of 2025, the city had disbursed 74% of the amount targeted by the Government – 89.07 trillion VND (3.7 billion USD) out of 120.32 trillion VND – well below the near-100 % rate typically required to maximise economic impact.

A view of Hanoi. The capital city will boost trade promotion and advertise the ‘Hanoi - A Green Destination’ programme to attract investment and international markets (Photo chinhphu.vn)

Hanoi aims to attract 4.5 billion USD in FDI in 2026

The plan was under Decision No. 53/KH-UBND on international economic integration in 2026, aiming to create momentum for rapid and sustainable growth, while simultaneously enhancing the competitiveness and position of the capital city in the context of deep integration.

People buy gold at a shop in Hanoi (Photo: VNA)

Ministry of Finance clarifies new gold bar tax amid market concerns

Under the new Personal Income Tax Law No. 109/2025, adopted by the National Assembly, a 0.1% tax will be levied on each transfer of gold bars. The Government will set value thresholds to exempt individuals purchasing gold for savings rather than speculative purposes.