Banks bankroll northern hydro-electric power plant

Four domestic commercial banks signed with the Electricity of Vietnam (EVN) on April 15 a contract on a 2.6 trillion VND loan for the Ban Chat hydro-electric power project in northern Lai Chau province.

The loan providers included the Bank for Agriculture and Rural Development of Vietnam (Agribank), the Bank for Investment and Development of Vietnam (BIDV), the Bank for Foreign Trade of Vietnam (Vietcombank), and the Global Petro Commercial Joint-stock Bank.

Of the total, Agribank has committed 1.46 trillion VND with a 13-year maturity and a 3-year grace period.

The 220 MW Ban Chat project is being built at a cost of more than 8.6 trillion VND on the Nam Mu river.

Scheduled to be operational in the first quarter of 2012, the plan will supply 1.3 billion kWh to the national grid each year, and help regulate water flows for the lowlands.

vietnamplus

>   German programme helps develop small, medium enterprises (16/04/2009)

>   It’s too early to say real estate market thawing (16/04/2009)

>   Stimulus leaves big questions unanswered (16/04/2009)

>   Perfect demand stimulus implementation will make inflation between 7-8% (16/04/2009)

>   Rural market - "gold mine" for producers and distributors (16/04/2009)

>   Downturn hits local ad industry, foreign agencies unscathed (15/04/2009)

>   Singaporean investors doing well in Vietnam: Official (15/04/2009)

>   Dak Lak aims to triple value of timber exports by 2015 (15/04/2009)

>   Garment firms focus on local trade (15/04/2009)

>   Theoretical Council mulls problems facing economy (15/04/2009)