Singapore’s United Overseas Bank (UOB) will provide a 40 million USD credit 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 29 between the UOB and the PetroVietnam Nhon Trach 2 Power Joint Stock Company – a subsidiary of the Vietnam National Oil and Gas Group (PetroVietnam).

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

Estimated to cost 600 million USD, the plant is scheduled for completion in December 2011. Its power will be sold to the Electricity of Vietnam Group (EVN).

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

UOB is committed to providing capital for projects in the country, including corporate credits, trade investment and pro-community projects, he said./.