US$40 million for Nhon Trach 2 power plant

The United Overseas Bank (UOB) has offered a loan worth US$40 million to build the Nhon Trach 2 thermoelectric power plant in southern Dong Nai Province.

The agreement was signed between UOB and the PetroVietnam Power Nhon Trach 2 Joint Stock Company, in a bid to provide gas and electric supplies for Nhon Trach industrial zone in Dong Nai.

Covering a site of 100 acres in Nhon Trach IZ, the Nhon Trach 2 power plant has a total investment of almost US$600 million and is expected to be operational by December 2011.

The 750MW plant is expected to produce 4.5 billion kWh of electricity annually, helping to ease the country’s power shortages by 2015.

According to Hoang Xuan Quoc, General Director of the PetroVietnam Power Nhon Trach 2 Joint Stock Company, the plant’s first turbine will start to produce power by March 2011. The plant’s electricity will be sold to the Vietnam Electricity Group (EVN) under power trading contract.

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