PM Okays Loan Guarantee for Two Big Power Projects

Vietnamese Prime Minister Nguyen Tan Dung September 11 approved letters of guaranty for foreign loans for Se San 4 hydropower project and Haiphong 2 thermo-power project, large-scale of their kinds in the country, local media reported.

 

The PM authorized the Ministry of Finance to sign the letter of guaranty for a contract with the Societe Generale bank that will provide a loan for the Se San 4 hydro power project, and another with the China EximBank and Japan Bank for International Cooperation (JBIC) for a loan for the Hai Phong 2 thermal power project.

 

The two-turbine, 300-MW Haiphong 2 thermal power facility will cost VND9.9 trillion (US$618.75 million) to become a modern coal-fueled plant in northern Haiphong port city.

 

The VND5.5-trillion (US$343.75 million) Se San 4 hydro power project will have a capacity of 360 MW, to be located in Gia Lai and Kon Tum provinces in the central highlands region.

 

The electricity sector of Vietnam is exploring ways to mobilize a total of US$80 billion for development plan in the 2006-2025 period, said the national electricity development plan until 2015 and vision 2025.

 

The country plans to put in use 135 power plants with combined capacity of 48,744 MW from now onto 2015, said the plan. Of the total, nine power plants with capacity of 2,096 MW will be operated this year. (VNA)