The Nippon Export and Investment Insurance of Japan will provide USD50 million as Overseas United Loan Insurance to Vietnam to build the Bac River hydro-power plant in the northern Ha Giang province.
A contract to this effect was signed in Hanoi on February 21 between NEXI and the project’s investor, the Bac River Hydro Power Joint Stock Company.
The loan will be provided through the Sumitomo Mitsui Banking of Japan with a period of 14 years, including a five-year grace period.
The Bac River Hydro Power Joint Stock Company is the first private Vietnamese investor to have received such kind of loan. The plant with a capacity of 42MW will be built in Tan Trinh commune, Quang Binh district.