PV Power raises capital for thermal power projects

The PetroVietnam Power Corporation (PV Power) is accelerating the raising of 32 trillion VND (1.4 billion USD) for its Nhon Trach 3 & 4 thermal power plants.

Tuesday, March 12, 2019 09:07

PV Power raises capital for thermal power projects ảnh 1

Nhon Trach 2 Thermal Power Plant, a sub-unit of PetroVietnam Power Corporation (PV Power). — (Source:cafef.vn)

Hanoi (VNA) – The PetroVietnam PowerCorporation (PV Power) is accelerating the raising of 32 trillion VND (1.4billion USD) for its Nhon Trach 3 & 4 thermal power plants.

According to PV Power Deputy General Director Nguyen Duy Giang, the sum will bedisbursed in the 2019-2024 period.

Thirtypercent of the capital will be provided by PV Power, and the remaining borrowedfrom either local commercial banks or international financial institutions, hesaid, adding that seven local commercial banks have committed to providing 25trillion VND (1.07 billion USD) for the projects.

PV Power has also worked with financialorganisations from Europe, Japan and other countries and 400 million USD worthof loans has been promised without Government’s guarantee.

The Nhon Trach 3 and 4 thermal power plants will be equipped with themixed-flow gas turbine technology, using liquefied natural gas (LNG).
The plants have capacity of 1,500 megawattseach and they are being built at the Ong Keo Industrial Park in the southernprovince of Dong Nai‘s Nhon Trach district.

They are projected to meet rising power demand in HCM City, Dong Nai and Ba Ria-VungTau provinces.-VNA

VNA

#PetroVietnam Power Corporation #thermal power plant #raises capital #commercial banks #LNG #Vietnamplus #Vietnam News #Vietnam News Agency

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