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Singapore bank finances Nhon Trach power plant

Singapore’s United Overseas Bank (UOB) will provide a 40 million USD credit to fund the construction of the Nhon Trach 2 power plant.
Singapore’s United Overseas Bank (UOB) will provide a 40 million USDcredit to fund the construction of the Nhon Trach 2 power plant.

A contract on the credit was signed in Ho Chi Minh City on July 29between the UOB and the PetroVietnam Nhon Trach 2 Power Joint StockCompany – a subsidiary of the Vietnam National Oil and Gas Group(PetroVietnam).

The 750 MW power project is beingbuilt on an area of 400,000 sq.m in the Ong Keo Industrial Zone in thesouthern province of Dong Nai .

Estimated tocost 600 million USD, the plant is scheduled for completion in December2011. Its power will be sold to the Electricity of Vietnam Group (EVN).

UOB Director for Vietnam and Myanmar Thng Tien Tatsaid the bank wants to contribute a part to Vietnam ’s development,especially to its infrastructure and energy.

UOB iscommitted to providing capital for projects in the country, includingcorporate credits, trade investment and pro-community projects, he said./.
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