The Nippon Export and Investment Insurance (NEXI) of Japan will provide 50 million US as Overseas United Loan Insurance (OULI) to Vietnam to build the Bac River hydro-power plant in the northern Ha Giang province.

A contract to this effect was signed in Hanoi on Feb. 21 between NEXI and the project’s investor, the Bac River Hydro Power Joint Stock Company.

The loan will be provided through the Sumitomo Mitsui Banking of Japan with a duration of 14 years, including a five-year grace period.

The Bac River Hydro Power Joint Stock Company is the first private Vietnamese investor to have received such kind of loan.

The plant with a capacity of 42MW will be built in Tan Trinh commune, Quang Binh district./.