Four banks ink deal to finance Vinh Tan 4 thermoelectric plant hinh anh 1A transaction office of Lien Viet Post Bank (Source: VNA)

Hanoi (VNA)
– Four commercial banks inked a deal in Hanoi on September 21 to provide 5,400 billion VND (23.75 million USD) in credit for the expanded Vinh Tan 4 thermoelectric project. 

According to EVN, the An Binh Bank has acted as coordinator to arrange the financial package with the Vietnam Bank for Agriculture and Rural Development, the Tien Phong Bank, the Lien Viet Post Bank and the Ho Chi Minh City Housing Development Bank.

Under the credit contract, the loan will have a term of 15 years (180 months) with a grace period of 60 months.

The project, invested by the Electricity of Vietnam (EVN) group, is one of the five thermoelectric plants in the Vinh Tan power complex in the south central province of Binh Thuan.

It has total investment of 23.9 trillion VND (over 1.1 billion USD), and has been listed among urgent projects during 2013-2020.

The plant has one turbine with a capacity of 600 MW. When becoming operational in 2019, it will supply around 3.9 billion kWh of electricity to the national grid.-VNA