French bank interested in Vietnam’s thermal power projects

Societe Generale Corporate & Investment Banking (SG) of Singapore is particularly interested in sponsoring thermoelectric projects invested by the Vietnam Oil and Gas Group (PetroVietnam), an official from the bank said on July 19.

french bank interested in vietnam’s thermal power projects hinh 0
Chairman of PetroVietnam Tran Si Thanh (R) and Pascal Lambert at the working session (Source: VNA) 
Pascal Lambert, SG Country Head for Singapore and Head in South East Asia and India, shared the desire during a working session with Chairman of PetroVietnam Tran Si Thanh in Hanoi, during they discussed possibilities of cooperation between the two sides in the coming time. 

Lambert thanked support and cooperation from PetroVietnam and its members, which have chosen the SG as a partner to fund major projects of the Vietnamese group in recent years.

The bank hopes to fund thermoelectric projects Nhon Trach 3 and 4, and Son My 1, he said, adding that the SG especially wishes to give consultancy on the issuance of international bonds for PetroVietnam and participate in the financing of commercial loans for projects.

With its experience in financing gas thermal power projects in Japan, Indonesia, Malta, and Bangladesh, the SG hopes to share experiences with PetroVietnam in this field, he stressed. 

For his part, Thanh highly valued the cooperation between PetroVietnam and the SG in recent times, saying that the SG has provided capital to many key projects of the group, including the thermo-power project Song Hau 1, contributing significantly to PetroVietnam’s development. 

PetroVietnam would like the SG to continuously provide finance consultancy for the group and its subsidiaries in the projects to come, he said. 

Initiated in Vietnam in 1989 with two representative offices in Hanoi and Ho Chi Minh City, the SG has actively participated in funding major infrastructure and industry projects of Vietnam. 

It has cooperated with PetrolVietnam since 2007, providing  loans for PetroVietnam Transportation Corporation (PV Trans) to build three 3 ships. In 2013, the SG joined other banks in the financing of Nghi Son Oil Refinery project.
VNA

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