Banks syndicate 1.2tr dong loan to build A Luoi hydro plant

Eight credit institutions lead by Agribank Saigon Branch, on June 29 in the central province of Thua Thien Hue, signed a 1.2 trillion dong (over US$74.372 million) credit contract with Central Hydropower Joint Stock Co (CHP) for funding the A Luoi Hydropower Plant project.

The other bank lenders are include other Agribank branches Thua Thien Hue branch, Agribank District 3 (HCM City), Agribank District 9, Agribank Da Nang, and the VinaSiam Joint Venture Ban, An Binh Bank and the state-owned Rubber Finance Co.

Truong Cong Gioi, the CHP director said that the A Luoi Hydropower Plant project has total cost of over 3.2 trillion dong with a designed capacity of 170 MW.

Earlier, the Bank for Investment and Development of Vietnam (Bidv) Thua Thien Hue branch pledged to lend 298.728 billion dong (more than US$18.514 million) to finance the project. Therefore, up to this time, CHP has received nearly 1.5 trillion dong (US$92.965 million) in total finance commitments from domestic institutions.

At the signing ceremony, CHP also signed an installation contract for A Luoi Hydropower Plant with Cavico Vietnam. Construction on the project started on June 30 and is expected to come into the national grid by 2010.

 

Category: Business