Oil group, bank lend $20 million to highlands power project

Vietnam Oil and Gas Group, or PetroVietnam, and the Bank of Investment and Development of Vietnam on Friday announced plans to jointly lend a total of VND370 billion to a hydropower project in Lam Dong Province.

The amount, roughly US$20.8 million, will fund just a part of the VND406 -billion Yan Tann Sien project in Lac Duong District, 12 kilometers from the resort town of Da Lat in the Central Highlands province. When completed in the second half of 2011, the power plant is expected to produce 79 million kilowatt hours a year.

Cao Nguyen-Song Da Hydropower Joint Stock Company will develop the plant under a build-own-operate model, the firm’s Director Nguyen Ngoc Canh said Friday.

 Ngan Thong

thanhnien

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