CitiBank provides credit for Nhon Trach 2 power plant

Nhon Trach 2 PetroVietnam Power Joint Stock Co, the project’s main investor, has appointed CitiBank as the major financial institution to arrange loans from credit organisations in order to carry out the construction of a gas-fired power plant with designed capacity of 750MW located in Dong Nai province. Nhon Trach 2 PetroVietnam Power Joint Stock Co is the member company of PetroVietnam Power Corp, a subsidiary of Vietnam National Oil and Gas Group (PetroVietnam).

Nhon Trach 2 gas-fired power plant is included in national general power plan in the period of 2006-2015 with vision to 2025. At present, the company has carried out the construction works for the project in order to meet the urgent demands for joining the national grid in March 2011.

CitiBank has successfully raised capital for the country’s infrastructure projects such as issuing bonds for Vietnam Coal and Mineral Industry Group (Vinacomin) valued at 1.5 trillion dong in May 2009 and offering loans for PetroVietnam in November 2008.

 

Category: Finance