Nhon Trach 2 Power Plant.
Six foreign banks and the PetroVietnam Nhon Trach 2 Power Joint Stock Company (PVNTP) signed a contract worth US$470 million for Nhon Trach 2 thermal-electric power project (NTTP) 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) part of the project.
Hoang Xuan Quoc, General Director of PVNTP said the plant’s turbine unit No.1 will start generating electricity in March 2011.
The US$706 million plant includes two turbine units with a total capacity of 500MW.
PVNTP is jointly invested by PetroVietnam, Electricity of Vietnam, Vietnam National Coal-Mineral Industries Group and Vietnam Posts and Telecommunications Group. (VNA)