VNIC to Provide Construction Services to PetroVietnam Power Projects
Vietnam Industrial Construction Group (VNIC) will provide construction services for the state-owned Vietnam Oil and Gas Group (PetroVietnam)’s power projects in line with a comprehensive cooperation agreement signed between the two sides in Hanoi on May 18.
As a result, VNIC will provide construction services for PetroVietnam’s thermal power projects of the Thai Binh 2, Long Phu 1, Song Hau 1, and Quang Trach 1, and Luang Prabang hydropower plant, PetroVietnam said.
It will also ensure implementation pace of PetroVietnam’s underway projects, including Nhon Trach 2, Vung Ang 1, Hua Na and Dakring power projects.
PetroVietnam, meanwhile, will provide VNIC with services of credit arrangement, insurance, appraisal and transportation, as well as petroleum for the latter’s projects. Initially, PetroVietnam Finance Corp. (PVFC), an affiliate of PetroVietnam, will arrange loan for VNIC’s Halong cement project.
The two sides will join hands to complete audit dossiers for PetroVietnam’s Ca Mau 1, Ca Mau 2 and Nhon Trach 1 power plants.
This year, PetroVietnam targets to produce 10.05 billion kWh of electricity this year, up 11.65% from its power output of 8.47 billion kWh last year. (www.pvn.vn)
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