The Vietnam Oil and Gas Group (PetroVietnam) and its Japanese partners signed an export credit agreement worth 141 million USD to purchase equipment for the Thai Binh 2 Thermal Power Plant Project in Hanoi on August 22.
The credit is funded by the Japan Bank for International Cooperation (JBIC), the Bank of Tokyo-Mitsubishi UFJ (BTMU), Citibank and Mizuho Corporate Bank .

The money will be allocated to buy steam turbines and other machinery, provided by the Japan-based Sojitz Corporation .

The Thai Binh 2 power plant project, which is being built in Thai Thuy district of the Red River Delta province of Thai Binh, demonstrates the determination of PetroVietnam to meet rising domestic demand for electricity.

The company wants to help ensure a stable electricity supply which serves the country’s economic development and supports the business activities of Japanese enterprises in Vietnam.-VNA