Leading bank sponsors thermal power project in Quang Binh
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) will provide a credit worth 27.1 trillion VND (1.18 billion USD) for the Quang Trach 1 thermal power project in the centreal province of Quang Binh.
The signing ceremony between EVN and Vietcombank. (Photo: baochinhphu.vn)Hanoi (VNA) - The Joint Stock Commercial Bank for Foreign Trade of Vietnam
(Vietcombank) will provide a credit worth 27.1 trillion VND (1.18 billion USD)
for the Quang Trach 1 thermal power project in the centreal province of
Quang Binh.
To this effect, the bank and Vietnam Electricity (EVN) signed a comprehensive cooperation agreement and financial credit contract supporting the project in Hanoi on June 30.
Total investment of the project is 41.13 trillion VND, using capital from EVN (30 percent) and domestic commercial loans (70 percent) funded by Vietcombank.
It is expected to be kicked off in the third quarter of this year and completed in 2025.
EVN assigned the Power Project Management Board No 2 as the representative of the investor of the project along with projects at the Quang Trach Power Centre with a total area of about 48.6 hectares in Vinh Son village, Quang Dong commune, Quang Trach district.
The project includes two power units with a total installed capacity of 1,200 MW, when put into operation, the plant will provide the national electricity system with an annual output of about 8.4 billion kWh, contributing to ensure the safety of national energy security and improving the safety and stability of the power system.
The Quang Trach 1 thermal power plant is considered to be the driving force for economic growth for Quang Binh province and the North Central region, thereby contributing to create favourable conditions for the local development of supporting industry, contributing about 1.2 trillion VND per year to the state budget, and creating stable and long-term jobs for local workers, especially highly-qualified workers./.
You should also see
Dien Bien soldiers, youth volunteers meet in Hanoi
Nearly 300 soldiers and youth volunteers directly engaging in the Dien Bien Phu campaign 70 years ago looked back on the 56-day battle, the victory of which led to the signing of the Geneva Accords on ending the war and restoring peace in Indochina, at a meeting in Hanoi on April 23.
See more
Business
Lao Cai province calls for more Japanese investments
The advantages and potential of Vietnam’s northern border province of Lao Cai were introduced to Japanese firms at an investment and tourism promotion conference in Tokyo on April 23.
Business
Vietnam’s economy shows gradual recovery: WB’s report
Vietnam's economy is showing mixed signs of recovery in early 2024, with growth forecast to reach 5.5% in 2024 and gradually rise to 6.0% by 2025, according to the latest World Bank Taking Stock bi-annual economic update released on April 23.
Business
Tra fish export to UAE jumps 67% in Q1
Vietnam’s tra fish export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year, statistics of the General Department of Customs showed.
Business
Central bank successfully auctions 3,400 taels of SJC-branded gold bars
The State Bank of Vietnam (SBV) released the outcome of the gold bullion auction on April 23, with two winning bidders securing 34 lots, equivalent to 3,400 taels of SJC-branded gold bars.
Business
Masan completes 250-million-USD investment deal with Bain Capital
Masan Group Corporation on April 23 announced that it has completed the mobilisation of 250 billion USD from Bain Capital, a leading global private investment firm with assets worth 180 billion USD under management.
