Donors Ink US$135.5Mln Deals for Nam Chien Hydropower Project

Six donors July 10 in Hanoi signed credit deals worth VND2,168 billion (US$135.5 million) financing Nam Chien hydropower project in northern mountainous Son La province, local media reported.

 

Donors are namely the Vietnam Foreign Trade Bank (Vietcombank), the Industrial and Commercial Bank of Vietnam (Incombank), the Bank for Investment and Development of Vietnam (BIDV), the Asia Commercial Joint Stock Bank (ACB), the Military Commercial Joint Stock Bank (MB) and the PetroVietnam Financial Company (PVFC).

 

The Nam Chien Hydroelectricity Joint Stock Company acts as the investor of the project that costs a total of VND4,174 billion (US$260.88 million).

The 200-MW hydroelectric plant is due for operation between 2009-2010, to turn out 728 million kWh of electricity annually, easing the nation’s power shortage.

 

Vietnam is estimated to lack 1,000 MW of electricity daily from early July to late September due to gas supply suspension from the Nam Con Son Basin for drilling platform upgrade. (Labor Online, Vietnam Economic Times)