BNP Paribas of France and Bank of China will provide an export creditagency (ECA) worth 275 million USD to the Mao Khe Thermoelectric PowerPlant.
The ECA to the effect was signed by the Vietnam NationalCoal, Mineral Industries Corporation (Vinacomin) and the two banks inHanoi on April 7.
At the signing ceremony, Deputy Minister ofIndustry and Trade Le Duong Quang said the signing of the ECA reflectedthe French and Chinese banks’ confidence in Vinacomin.
Accordingto Vinacomin General Director Le Minh Chuan, the corporation has alreadysigned an engineering, procurement and construction (EPC) contractworth 429.5 million USD with China’s KAIDI Electric Power Co. Ltd. forthe 577 million USD plant. The 275 million ECA to fund the EPC contractis guaranteed by Vietnam’s Finance Ministry and insured by Sinosure ofChina for 13 years.
Invested by Vinacomin, the Mao KheThermoelectric Power Plant in the northern coal-mining province of QuangNinh will include two turbines with a combined capacity of 440MW andconsume dust coal from Mao Khe, Trang Bach, Khe Chuoi and Hong Thaimines to generate electricity.
Work on the plant was commencedon July 8, 2009. Once operational by the end of 2012, the plant isexpected to provide around 2.6 billion kWh of electricity for thenational grid per year./.
The ECA to the effect was signed by the Vietnam NationalCoal, Mineral Industries Corporation (Vinacomin) and the two banks inHanoi on April 7.
At the signing ceremony, Deputy Minister ofIndustry and Trade Le Duong Quang said the signing of the ECA reflectedthe French and Chinese banks’ confidence in Vinacomin.
Accordingto Vinacomin General Director Le Minh Chuan, the corporation has alreadysigned an engineering, procurement and construction (EPC) contractworth 429.5 million USD with China’s KAIDI Electric Power Co. Ltd. forthe 577 million USD plant. The 275 million ECA to fund the EPC contractis guaranteed by Vietnam’s Finance Ministry and insured by Sinosure ofChina for 13 years.
Invested by Vinacomin, the Mao KheThermoelectric Power Plant in the northern coal-mining province of QuangNinh will include two turbines with a combined capacity of 440MW andconsume dust coal from Mao Khe, Trang Bach, Khe Chuoi and Hong Thaimines to generate electricity.
Work on the plant was commencedon July 8, 2009. Once operational by the end of 2012, the plant isexpected to provide around 2.6 billion kWh of electricity for thenational grid per year./.
