Two State Banks Syndicates US$25.9Mln to Da Dang Power Plant
The state-owned Industrial and Commercial Bank of Vietnam (Incombank) and the Bank for Foreign Trade of Vietnam (Vietcombank) have inked a deal to syndicate loans worth total VND414 billion (US$25.9 million) to the Da Dang 2-Bo Trai hydropower Plant.
The loans, which will be given to the Southern Hydropower Company, the constructor of the power plant, include VND248.4 billion from Incombank and VND165.6 billion from Vietcombank.
The Da Dang 2-Bo Trai Hydropower Plant has a designed capacity of 34 MW, with total investment capital of VND592 billion.
As planned, these two banks will finance the Southern Hydropower Company to build the 75MW Dambri Hydropower Plant. (Youth Mar 28, Vietnam Economic Times)
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