US$429.5 million to build Mao Khe power plant

Vietnam Coal and Mining Industry Group (TKV) and KAIDI International Group from China on July 7 in Hanoi signed an EPC contract worth nearly US$429.5 million to build the Mao Khe thermal power plant.

The plant will occupy an area of 72ha in Dong Trieu district, Quang Ninh province.

When it goes into operation in 2012, the plant will supply the national grid with about 2.6 billion kWh per year.

The same day, the Vietnam Export Import Commercial Joint-Stock Bank (Eximbank) and TKV signed a contract to sponsor US$56 million worth of credit for the EPC contract.

TKV will begin construction of the plant on July 8.

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