US$470 mln for Nhon Trach 2 power project

11/08/2010 16:19:48 - views: 2,832

Six foreign banks and the PetroVietnam Nhon Trach 2 Power Joint Stock Company (PVNTP) signed a contract valued at US$470 million for Nhon Trach 2 Thermal Power project (NTTP) in Hanoi on August 10.


These six banks include Citi Bank, HSBC, Credit Agricole, Sumitomo, Japan Development Bank and AK Bank.

Under the contract, the NTTP in the southern province of Dong Nai will borrow US$470 million for 12 years with preferential interest rate to pay for the Engineering, Procurement and Construction (EPC) contract of the project.

Hoang Xuan Quoc, General Director of PVNTP, said the first turbine group will start generating power in March, 2011, the second will generate power in April, 2011 and the commercial power will be delivered by the end of 2011.

The US$706 million NTPP includes two turbine groups with a total capacity of 500MW and uses Nam Con Son gas as fuel for generating power.

The PVNTP is jointly invested by PetroVietnam, Electricity of Vietnam, Vietnam National Coal-Mineral Industries Group and Vietnam Posts and Telecommunications Group.
Source: VOVNews

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