BIDV Lends US$18.75 Mln to Hydropower Project in Northern Vietnam
The Lao Cai province-branched Bank for Investment and Development of Vietnam February 25 inked a deal to lend VND300 billion (US$18.75 million) to a hydropower project in northern Vietnam.
The Power Development, Construction and Investment Joint Stock Company (PDCI) will build the 21-megawatt Ngoi Chan hydropower plant in Hoa Mac commune, Van Ban district, of northern Lao Cai province.
The plant costs a total of VND433 billion (US$27.06 million).
Information about the time for the start and completion of the project has not yet been made available.
The loan for the project is the biggest among finances set for over 60 planned hydropower projects and over 10 underway ones in the province.
Lao Cai province boasts a great hydropower potential of more than 1,100 MW with 110 locations suitable for building hydroelectric plants. (VNA Feb 26)
Vietnamese
